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.
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Read More on KVYO:
- Klaviyo price target lowered to $33 from $38 at Citi
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- Klaviyo reports Q3 revenue $175.8M, consensus $167.06M
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