Morgan Stanley Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO - Get Free Report) had its target price cut by investment analysts at Morgan Stanley from $50.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 37.71% from the company's previous close.

KVYO has been the subject of several other research reports. Scotiabank upped their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on shares of Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 20th. Robert W. Baird increased their target price on shares of Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Citigroup lifted their price target on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald increased their price objective on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.05.

Klaviyo Stock Performance

Shares of Klaviyo stock traded down $0.96 during trading hours on Wednesday, reaching $24.69. The company's stock had a trading volume of 2,110,272 shares, compared to its average volume of 1,301,194. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The company's 50 day simple moving average is $34.44 and its 200 day simple moving average is $38.07. The stock has a market cap of $6.74 billion, a P/E ratio of -137.17 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, sell-side analysts predict that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $25.77 per share, with a total value of $100,503.00. Following the purchase, the insider now owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,088,770 shares of company stock worth $67,947,356 in the last 90 days. Company insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Several large investors have recently added to or reduced their stakes in KVYO. CIBC Private Wealth Group LLC increased its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after purchasing an additional 818 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Klaviyo during the fourth quarter worth approximately $196,000. US Bancorp DE acquired a new position in Klaviyo during the fourth quarter valued at approximately $199,000. Finally, Keybank National Association OH acquired a new stake in shares of Klaviyo in the fourth quarter worth $203,000. 45.43% of the stock is owned by 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.