Klaviyo initiated with a Buy at Stifel

Stifel analyst J. Parker Lane initiated coverage of Klaviyo (KVYO) with a Buy rating and $45 price target The company has built a leading marketing automation and CDP platform that addresses channels like email and SMS and Klaviyo’s ability to deeply integrate with a variety of data sources and e-commerce platforms leaves it well positioned to capture share of the sizable digital marketing space in the coming years, while also benefiting from the ongoing share shift toward e-commerce in retail, the analyst tells investors.