Klaviyo price target lowered to $32 from $37 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Klaviyo to $32 from $37 and keeps an Equal Weight rating on the shares. The firm’s channel conversations picked up a stable to slightly improving environment across the Software-as-a-Service group and demand stabilization, along with lower expectations, makes the firm “constructive on FY24 setups,” the analyst tells investors in a group preview note.