Piper Sandler lowered the firm’s price target on Klaviyo (KVYO) to $26 from $30 and keeps an Overweight rating on the shares. The firm notes shares are trading down on a Q1 revenue lighter beat, the statement that guidance would be “closer to the pin,” commentary that Klaviyo will absorb telco carrier fees rather than pass these on to customers, and the announcement that CFO Amanda Whalen will step down in August.
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