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

Klaviyo (NYSE:KVYO - Get Free Report) had its price target increased by analysts at Morgan Stanley from $38.00 to $47.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 20.51% from the stock's previous close.

Several other research firms have also weighed in on KVYO. Barclays upped their price objective on Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Macquarie reaffirmed a "neutral" rating and set a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. William Blair reiterated an "outperform" rating on shares of Klaviyo in a research report on Thursday, December 19th. Piper Sandler increased their target price on Klaviyo from $45.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Needham & Company LLC increased their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.29.

Klaviyo Price Performance

NYSE:KVYO traded down $0.41 during midday trading on Monday, reaching $39.00. The stock had a trading volume of 812,535 shares, compared to its average volume of 874,948. Klaviyo has a 1-year low of $21.26 and a 1-year high of $44.77. The firm's fifty day simple moving average is $39.24 and its 200-day simple moving average is $33.91. The stock has a market capitalization of $10.52 billion, a P/E ratio of -216.65 and a beta of 0.57.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same period in the previous year, the company earned ($1.24) earnings per share. The company's quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the sale, the president now owns 186,785 shares of the company's stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,351,507.60. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,650 shares of company stock worth $6,582,805 over the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC acquired a new position in Klaviyo during the 3rd quarter worth approximately $53,000. West Tower Group LLC acquired a new stake in Klaviyo in the third quarter valued at approximately $177,000. Victory Capital Management Inc. acquired a new stake in Klaviyo in the third quarter valued at approximately $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo during the third quarter worth $245,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Company Profile

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.