Klaviyo Inc (KVYO) PT Lowered to $31 at Citi, Opens 90-Day Downside Catalyst Watch

(Updated - February 8, 2024 5:42 AM EST)

Citi analyst Tyler Radke lowered the price target on Klaviyo Inc (NYSE: KVYO) to $31.00 (from $33.00) while maintaining a Neutral rating. Opens downside 90-day catalyst watch.

"We see risk of near-term downside to KVYO shares post earnings (Feb. 27) due to a potentially weaker FY24 revenue outlook that could reflect incremental caution tied to email sender requirement changes causing customers to reduce monthly distribution list sizes and/or messaging volumes. We also note that the company will see a lock-up expiry on Feb 29th.

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