Klaviyo, Inc. Class A (KVYO – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Derrick Wood from TD Cowen reiterated a Buy rating on the stock and has a $55.00 price target.
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Derrick Wood has given his Buy rating due to a combination of factors including Klaviyo, Inc.’s impressive fourth-quarter performance and promising growth outlook. The company achieved a significant revenue increase of 34%, surpassing market expectations, and the operating margin also exceeded projections. Additionally, the management’s guidance for FY25 revenue is above street estimates, indicating continued confidence in future growth.
Derrick Wood also highlighted key growth drivers that Klaviyo, Inc. is successfully leveraging. These include international expansion, where the company is seeing increased penetration, and growth in larger customer segments, contributing to a 46% increase in high-value accounts. Furthermore, the effective cross-selling of SMS services among small and medium-sized businesses has helped enhance the company’s market position and support upward market trends. The recent introduction of new pricing strategies is expected to yield positive financial outcomes, reinforcing Wood’s confidence in the company’s prospects.
In another report released yesterday, Benchmark Co. also reiterated a Buy rating on the stock with a $51.00 price target.