Klaviyo Inc (KVYO) PT Raised to $45 at Baird

Baird analyst Rob Oliver raised the price target on Klaviyo Inc (NYSE: KVYO) to $45.00 (from $42.00) while maintaining a Outperform rating.

The analyst commented: "Klaviyo reported a strong Q3'24, featuring another sizable top-line beat (+34% yr-yr vs. guidance +28-29% yr-yr). Company continues to see momentum driven by up-market motion (+54% yr-yr increase in customers >$50k ACV), and international expansion/growth. Q4 operating margin is below Street due to initiation of employee bonus plan. With shares +82% since company's stellar Q2 report (vs. S&P +13%), we are not surprised shares are trading off after hours. We view weakness as a buying opportunity. We will host management for investor meetings next week."

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