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

Klaviyo (NYSE:KVYO) had its price objective decreased by equities research analysts at Morgan Stanley from $50.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 28.84% from the stock’s previous close.

A number of other research analysts have also recently weighed in on KVYO. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Loop Capital upped their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus boosted their target price on shares of Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Benchmark increased their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald upped their target price on Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.89.

Klaviyo Trading Down 1.0 %

Shares of KVYO stock traded down $0.28 during mid-day trading on Wednesday, reaching $26.39. The stock had a trading volume of 531,226 shares, compared to its average volume of 1,285,211. The company has a market cap of $7.21 billion, a P/E ratio of -146.61 and a beta of 1.39. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The business has a 50-day simple moving average of $35.77 and a 200 day simple moving average of $38.25.

Klaviyo (NYSE:KVYO) last issued its quarterly 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 business 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%. Research analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $26.70, for a total transaction of $400,500.00. Following the transaction, the chief financial officer now owns 553,943 shares of the company’s stock, valued at approximately $14,790,278.10. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,081,710 shares of company stock worth $67,759,137. 53.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently added to or reduced their stakes in KVYO. Vanguard Group Inc. raised its stake in shares of Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after acquiring an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after buying an additional 267,845 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Klaviyo by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after acquiring an additional 140,127 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after acquiring an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Klaviyo by 48.6% during the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after acquiring an additional 635,962 shares during the period. 45.43% of the stock is 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.