Goldman Sachs Starts Klaviyo Inc (KVYO) at Neutral, 'fairly valued'
Goldman Sachs analyst Gabriela Borges initiates coverage on Klaviyo Inc (NYSE: KVYO) with a Neutral rating and a price target of $36.00.
The analyst comments "We initiate on Klaviyo (KVYO) with a Neutral rating and 12-month price target of $36 (14% upside). We believe Klaviyo is well positioned to benefit from secular shifts within the marketing tech stack, including omni-channel engagement, empowering marketing professionals to execute curated campaigns, and the increasing value of first party data. Klaviyo's technical differentiation stems from its underlying architecture, which integrates the data and application layers, and creates long-term avenues for growth that will likely be additive to the current TAM. We view the stock as fairly valued at current levels, and we look to momentum upmarket and diversification outside of retail/ecomm to unlock longer term stock outperformance."
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Shares of Klaviyo Inc closed at $31.53 yesterday.