Mizuho analyst Siti Panigrahi lowered the firm’s price target on Klaviyo to $35 from $40 and keeps a Buy rating on the shares. Klaviyo reported better than expected Q1 results but customer net adds continued to be pressured as the company is seeing some softness in customers down-market, the analyst tells investors in a research note. The firm cites the recent de-rating of peers for the target cut.
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