Morgan Stanley Trims Klaviyo (NYSE:KVYO) Target Price to $32.00

Klaviyo (NYSE:KVYO) had its price objective trimmed by Morgan Stanley from $37.00 to $32.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC reiterated a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, February 28th. FBN Securities began coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They set an outperform rating and a $35.00 price target for the company. Scotiabank initiated coverage on shares of Klaviyo in a report on Tuesday, April 2nd. They issued a sector perform rating and a $30.00 price objective on the stock. KeyCorp started coverage on shares of Klaviyo in a research note on Thursday, March 21st. They set a sector weight rating for the company. Finally, William Blair reissued an outperform rating on shares of Klaviyo in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $36.88.

Klaviyo Trading Down 0.3 %

Shares of NYSE KVYO opened at $22.72 on Wednesday. Klaviyo has a 1 year low of $22.49 and a 1 year high of $39.47. The company’s 50-day moving average is $26.09 and its 200 day moving average is $27.68.

Klaviyo (NYSE:KVYO) last posted its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $201.62 million for the quarter, compared to analysts’ expectations of $196.02 million. On average, research analysts anticipate that Klaviyo will post -0.27 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of Klaviyo stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KVYO. Salem Investment Counselors Inc. purchased a new stake in shares of Klaviyo during the 4th quarter valued at about $25,000. New York State Common Retirement Fund bought a new position in Klaviyo in the third quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its stake in shares of Klaviyo by 20,305.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,081 shares of the company’s stock worth $113,000 after acquiring an additional 4,061 shares during the last quarter. Skylands Capital LLC purchased a new stake in shares of Klaviyo in the 3rd quarter worth $172,000. Finally, Deutsche Bank AG bought a new position in Klaviyo in the 3rd quarter worth $172,000. 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.