Klaviyo (NYSE:KVYO) Given New $47.00 Price Target at Morgan Stanley

Klaviyo (NYSE:KVYO) had its price objective lifted by equities researchers at Morgan Stanley from $38.00 to $47.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 19.08% from the stock’s previous close.

Several other brokerages have also recently issued reports on KVYO. Cantor Fitzgerald raised their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Macquarie reiterated a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Loop Capital raised their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Piper Sandler upped their price target on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $39.47 on Monday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.77. The company has a market cap of $10.64 billion, a PE ratio of -219.27 and a beta of 0.57. The business has a 50-day simple moving average of $39.24 and a two-hundred day simple moving average of $34.11.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the firm posted ($1.24) earnings per share. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, sell-side analysts predict that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $13,672,488.96. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,536 shares of company stock valued at $5,909,146. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in KVYO. Arizona State Retirement System grew its stake in shares of Klaviyo by 67.1% in the second quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock valued at $404,000 after buying an additional 6,512 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Klaviyo by 40.8% during the 2nd quarter. Renaissance Technologies LLC now owns 238,900 shares of the company’s stock worth $5,946,000 after purchasing an additional 69,200 shares during the period. Blair William & Co. IL grew its stake in shares of Klaviyo by 14.3% in the 2nd quarter. Blair William & Co. IL now owns 200,680 shares of the company’s stock valued at $4,995,000 after purchasing an additional 25,149 shares during the last quarter. XTX Topco Ltd increased its stake in Klaviyo by 114.7% in the 2nd quarter. XTX Topco Ltd now owns 24,363 shares of the company’s stock valued at $606,000 after buying an additional 13,016 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Klaviyo during the 2nd quarter worth $747,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

About Klaviyo

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.