Klaviyo initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Klaviyo with an Equal Weight rating and $37 price target Klaviyo is a leader in an “attractive” small business retail engagement market via its data driven architecture, the analyst tells investors in a research note. The firm says that while the company is aiming to diversify by moving up-market and gradually into other verticals, this creates an elevated risk profile. As such, it is balanced on the shares at current levels.