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

Klaviyo, Inc. (NYSE:KVYO) shares hit 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 traded. The stock had previously closed at $23.29.

Several other research firms have also issued reports on KVYO. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Wednesday, February 28th. The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Monday, February 5th. William Blair reissued an “outperform” rating on shares of Klaviyo in a research note on Wednesday, February 28th. Barclays lowered their target price on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, January 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $38.00 target price on shares of Klaviyo in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the transaction, the insider now directly owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. acquired a new stake in shares of Klaviyo during the 4th quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $65,000. Tower Research Capital LLC TRC increased its holdings in shares of Klaviyo by 20,305.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,081 shares of the company’s stock worth $113,000 after buying an additional 4,061 shares during the last quarter. Skylands Capital LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $172,000. Finally, Deutsche Bank AG acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $172,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Trading Down 0.3 %

The stock’s fifty day moving average price is $26.09 and its 200-day moving average price is $27.68.

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

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.