Morgan Stanley Resumes Coverage of Klaviyo (KVYO)

Klaviyo, Inc. (NYSE:KVYO) is one of the best strong buy growth stocks to buy right now. Morgan Stanley resumed coverage of Klaviyo, Inc. (NYSE:KVYO) with an Overweight rating on April 29 and set a price target of $34. It stated that intra-quarter data points, including both channel conversations and CIO survey indicators, pointed towards durability and “signs of cautious optimism” within application SaaS fundamentals. The firm added that it prefers companies such as Klaviyo, Inc. (NYSE:KVYO), which are seen as holding the best position to deliver meaningful estimate revisions against “undemanding valuation.”

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Klaviyo, Inc. (NYSE:KVYO) also received a rating update from Jefferies on April 28. The firm maintained a Buy rating on the stock with a price target of $29, with the rating update coming ahead of the company’s planned fiscal Q1 results on May 5. The firm told investors in a research note that it believes Klaviyo, Inc. (NYSE:KVYO) has the potential to deliver on consensus growth estimates of 25%, with an upside scenario of a 5-6 percentage point growth beat. It added that web traffic trends appear healthy, and the company is re-accelerating its hiring.

Klaviyo, Inc. (NYSE:KVYO) provides a SaaS marketing platform, offering personal ecommerce marketing reinvented for online stores on Shopify, Bigcommerce, and Magento.

While we acknowledge the risk and potential of KVYO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KVYO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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