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

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price hit a new 52-week low during mid-day trading 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.

Other research analysts also recently issued research reports about the company. Barclays lowered their target price on Klaviyo from $37.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, January 12th. Piper Sandler reissued an "overweight" rating and set a $38.00 price objective on shares of Klaviyo in a report on Wednesday, February 28th. William Blair reissued an "outperform" rating on shares of Klaviyo in a report on Wednesday, February 28th. Scotiabank began coverage on Klaviyo in a report on Tuesday, April 2nd. They set a "sector perform" rating and a $30.00 price objective on the stock. Finally, The Goldman Sachs Group raised Klaviyo from a "neutral" rating to a "buy" rating and set a $36.00 price objective on the stock in a report on Monday, February 5th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and an average 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 stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Klaviyo

Hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new position in shares of Klaviyo in the 3rd quarter worth approximately $65,000. Tower Research Capital LLC TRC raised its holdings in shares of Klaviyo by 20,305.0% in 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 in the last quarter. Skylands Capital LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $172,000. Finally, Deutsche Bank AG acquired a new stake in Klaviyo during the 3rd quarter valued at $172,000. Institutional investors own 45.43% of the company's stock.

Klaviyo Trading Down 2.1 %

The stock has a fifty day moving average of $26.24 and a two-hundred day moving average of $27.75.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million for the quarter, compared to analyst estimates of $196.02 million. Equities analysts anticipate 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.