Klaviyo price target raised to $55 from $42 at Truist

Truist raised the firm’s price target on Klaviyo (KVYO) to $55 from $42 and keeps a Buy rating on the shares. The company’s Q4 was strong with upside across revenue, non-GAAP EBIT and free cash flow, the analyst tells investors in a research note. Customer growth accelerated and balanced across all customer cohorts, some SMB stabilization was called out, up market business continues to ramp, and EMEA growth especially strong, the firm adds.