Klaviyo initiated with a Buy at Truist

Truist analyst Terry Tillman initiated coverage of Klaviyo with a Buy rating and $42 price target. The analyst says Klaviyo has uniquely combined advanced data infrastructure with customer engagement solutions into a single platform that optimizes multi-channel digital interactions. The firm believes platform differentiation along with a proven go-to-market engine with emerging upside drivers could help the company maintain “best-in-class” sales growth “while impressively scaling profits and cash flow.”