Needham analyst Scott Berg maintained a Buy rating on Klaviyo, Inc. Class A today and set a price target of $45.00.
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Scott Berg has given his Buy rating due to a combination of factors that highlight Klaviyo, Inc.’s strong performance and growth potential. The company reported impressive third-quarter sales, particularly with a significant increase in large customer sales, which contributed to a solid revenue upside. Additionally, Klaviyo’s international segment has shown consistent acceleration for the sixth consecutive quarter, indicating robust global expansion.
Another key factor in Berg’s rating is the company’s innovative use of AI, which has demonstrated a high return on investment and aligns with the emerging trend of Agentic Commerce. Furthermore, Klaviyo’s new service offering has seen rapid adoption, surpassing previous product launches, which suggests strong market demand. The company’s initial revenue guidance for FY26 aligns with consensus estimates, yet there are indications of potential growth beyond these projections due to new products not yet factored into the guidance. These elements collectively support the Buy rating as they point towards multiple avenues for future growth and success.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $46.00 price target.