Klaviyo price target raised to $32 from $26 at Wells Fargo

Wells Fargo analyst Michael Berg raised the firm’s price target on Klaviyo (KVYO) to $32 from $26 and keeps an Equal Weight rating on the shares. The firm notes Klaviyo has traded off over 30% since February 10 on tariff/macro fears. While Wells’ diligence suggested stable demand/limited macro impacts, with declining macro data points and indirect tariff exposure, the firm believes risk is now properly reflected.