Klaviyo Inc (KVYO) PT Lowered to $40 at Stifel

Stifel analyst Parker Lane lowered the price target on Klaviyo Inc (NYSE: KVYO) to $40.00 (from $42.00) while maintaining a Buy rating.

The analyst commented, "Klaviyo delivered a clean beat and raise and a solid initial outlook for 2026, driven by record >$50k net adds, its sixth straight quarter of International revenue growth acceleration, and an improvement in NRR to 109%. On top of these metrics, management highlighted the progress of recent platform expansion efforts around Marketing Analytics, Service, and Agents, which are beginning to bear fruit and have laid the groundwork for multiple years of profitable growth. Given recent fundamentals and growing number of expansion opportunities that will be present in 2026 relative to the company's recent history, we see the initial outlook of at least 21-22% (plus at least 1pt of margin expansion) as a solid, conservative starting point as the company demonstrates how its platform can adapt/evolve to the emergence of agentic commerce and customer experiences. We maintain our Buy rating but are trimming our target price from $42 to $40."

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