Needham Reiterates Buy Rating on Klaviyo Inc (KVYO)

Needham analyst Scott Berg reiterated a Buy rating and $30.00 price target on Klaviyo Inc (NYSE: KVYO).

The analyst commented: "We hosted CO-CEO Chano Fernandez and new VP of IR Brad Sills for investor meetings yesterday where we came away encouraged about early AI adoption trends but also its strategy to tackle the larger Enterprise Segment we believe both can further augment our FY27 estimates. Although the AI side remains early, 95k customers (~45% of total) have used its new Composer since its June 30th release with 25% quickly using it again through an initial 90 day free credit strategy. This usage rate is ahead of our expectations which drives our more optimistic view on FY27 AI contribution. On the up market move, market awareness has been the focus which seems to be a bigger success roadblock than just capacity but the awareness efforts appear to be well-placed. Carrier pricing was of course a focus but monetization has started which should help 2H GM."

For an analyst ratings summary and ratings history on Klaviyo Inc click here. For more ratings news on Klaviyo Inc click here.

Shares of Klaviyo Inc closed at $20.64 yesterday.

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