Klaviyo initiated with bullish view at Loop Capital, here’s why

Loop Capital last night initiated coverage of Klaviyo (KVYO) with a Buy rating and $40 price target. The company is emerging as the de facto standard in the marketing automation software industry for small and medium-sized merchants, the analyst tells investors in a research note. With its “highly sophisticated analytics-driven platform that has garnered a word-of-mouth driven reputation for its ease-of-use,” Klaviyo is is well positioned to benefit from its preferred marketing vendor status with Shopify (SHOP), says the firm.