Klaviyo price target raised to $47 from $38 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Klaviyo (KVYO) to $47 from $38 and keeps an Equal Weight rating on the shares. Klaviyo delivered on all strategic priorities throughout FY24, but at the current valuation, inline with customer enablement and front office peers, the market is “fairly pricing Klaviyo’s strong growth profile,” the analyst tells investors.