Klaviyo resumed with an Overweight at Morgan Stanley

Morgan Stanley resumed coverage of Klaviyo (KVYO) with an Overweight rating and $34 price target Intra-quarter data points – both channel conversations and CIO survey indicators – reflected durability and “signs of cautious optimism” within application SaaS fundamentals, says the analyst, who prefers companies such as Klaviyo which are seen as best positioned to deliver meaningful estimate revisions against “undemanding valuation.”