Jefferies initiated coverage of Klaviyo (KVYO) with a Buy rating and $32 price target The firm noted that Klaviyo’s stock sold off materially in 2025 due to AI concerns, like many of its peers, but Jefferies believes the risk is “more than priced in” at the current valuation of ~4.6x next-twelve-months revenue, which the firm added is near all-time lows. Jefferies believes the risk/reward “skews positively” even with the AI overhang taking time to resolve.
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