Klaviyo (NYSE:KVYO) Hits New 12-Month Low After Analyst Downgrade

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week low on Thursday after Morgan Stanley lowered their price target on the stock from $37.00 to $32.00. Morgan Stanley currently has an equal weight rating on the stock. Klaviyo traded as low as $22.71 and last traded at $22.95, with a volume of 637391 shares. The stock had previously closed at $23.29.

Several other research firms also recently weighed in on KVYO. The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, February 5th. Barclays decreased their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Cantor Fitzgerald began coverage on shares of Klaviyo in a report on Tuesday. They issued an “overweight” rating and a $31.00 price target for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price target on shares of Klaviyo in a report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the sale, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $5,047,000. Hudson Bay Capital Management LP bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $690,000. Summit Partners L P bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $1,708,162,000. FMR LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $34,203,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $5,111,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Stock Down 0.3 %

The business’s fifty day moving average is $26.09 and its 200 day moving average is $27.68.

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

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.