TD Cowen analyst Derrick Wood has maintained their bullish stance on KVYO stock, giving a Buy rating on February 24.
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Derrick Wood has given his Buy rating due to a combination of factors that highlight Klaviyo, Inc.’s promising growth prospects and strategic initiatives. The company has shown strong fourth-quarter results, and management has expressed cautious optimism about improving macroeconomic conditions. This optimism is supported by a notable increase in new SMB customer generation and stable net revenue retention rates, suggesting potential for continued growth if these trends persist.
Additionally, Klaviyo’s recent product launches, including Customer Hub and Marketing Analytics, are expected to broaden its market positioning and expand its total addressable market. These new offerings not only provide high-margin cross-selling opportunities but also position Klaviyo to evolve into a comprehensive B2C CRM platform provider. Furthermore, the company’s diversified go-to-market strategies and international expansion efforts, along with significant traction in the up-market segment, underscore its durable growth drivers and potential for sustained revenue growth.
In another report released on February 24, Truist Financial also reiterated a Buy rating on the stock with a $55.00 price target.