Piper Sandler lowered the firm’s price target on Klaviyo (KVYO) to $45 from $50 on lower estimates, while keeping an Overweight rating on the shares. The firm notes Q3 results demonstrated the resilience of the Klaviyo model, underpinned by total revenue growth of 32% year-over-year, 7,000 net new customer adds, a record 272 $50K-plus net adds, and 43% year-over-year international revenue growth.
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