Analyst Scott Berg of Needham maintained a Buy rating on Klaviyo, Inc. Class A, retaining the 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 potential for significant growth. The company’s introduction of a new Agentic product strategy is particularly promising, as it aligns with the current trend of hyper-personalization in marketing. This approach leverages Gen AI technologies, which are expected to be widely adopted due to their ability to enhance marketing efforts effectively.
Additionally, Klaviyo’s emerging cross-sell strategy, coupled with its strong performance in both up-market and international segments, suggests a robust path for revenue growth. Although the company has not provided specific revenue growth targets, the anticipated margin expansion and the potential for above-average revenue growth exceeding 20% over the coming years make the stock an attractive buy. These factors contribute to Scott Berg’s positive outlook on Klaviyo’s future performance.
According to TipRanks, Berg is an analyst with an average return of -2.1% and a 42.89% success rate. Berg covers the Technology sector, focusing on stocks such as Monday.com, SPS Commerce, and Workday.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $50.00 price target.