Morgan Stanley Upgrades Klaviyo (KVYO) to Buy, Keeps the PT

Core Insights - Klaviyo, Inc. (NYSE:KVYO) is recognized as a promising technology stock by hedge funds, with a recent upgrade from Morgan Stanley from Neutral to Buy, setting a price target of $50 [1][3] Company Strategy - The company is shifting its focus from email marketing to a comprehensive CRM platform tailored for B2C businesses, which is expected to unlock a larger market opportunity [2] - This strategic pivot is anticipated to drive revenue growth of over 20% annually for the next three years [2] Financial Valuation - Klaviyo has a strong history of technological innovation, distinguishing itself in a software sector characterized by limited high growth [3] - The current enterprise value to sales ratio is approximately 6x, which is considered undervalued given the company's growth potential [3]