Morgan Stanley Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO - Get Free Report) had its target price hoisted by equities research analysts at Morgan Stanley from $47.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 19.66% from the company's previous close.

A number of other research firms have also recently commented on KVYO. Robert W. Baird lifted their price target on shares of Klaviyo from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Thursday. Benchmark boosted their target price on Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday. Scotiabank upped their target price on Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Citigroup raised their price target on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Finally, KeyCorp upped their price objective on Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.44.

Klaviyo Stock Down 5.6 %

NYSE KVYO traded down $2.48 during trading hours on Thursday, hitting $41.79. 2,914,094 shares of the company were exchanged, compared to its average volume of 1,316,713. The stock has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The stock has a 50-day moving average price of $43.72 and a 200 day moving average price of $37.92.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. As a group, sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now owns 260,403 shares of the company's stock, valued at $10,426,536.12. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares of the company's stock, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 over the last 90 days. Company insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently bought and sold shares of the company. Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock valued at $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Focus Partners Wealth acquired a new position in Klaviyo during the 4th quarter valued at about $38,870,000. D. E. Shaw & Co. Inc. raised its stake in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock valued at $54,034,000 after buying an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Klaviyo in the fourth quarter worth about $30,851,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after acquiring an additional 684,026 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.