Klaviyo price target lowered to $37 from $38 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Klaviyo (KVYO) to $37 from $38 and keeps an Equal Weight rating on the shares. Changes to industry email rules increased concerns for email-skewed marketing tech vendors Klaviyo and Zeta Global (ZETA), but both companies expressed no material impacts expected, “putting bear cases at ease,” says the analyst, who walks away from last night’s reports remaining watchful for growth vectors at Klaviyo to take hold.