Stephens initiated coverage of Klaviyo (KVYO) with an Overweight rating and $43 price target as part of a broader research note launching coverage on Application and Enterprise Software names. The firm is also naming the stock its Best Idea. Klaviyo offers a clear value proposition with its “Klaviyo Attributed Value” and also has the highest revenue growth rate among covered companies, while the market still values this metric most for enterprise software, the analyst tells investors in a research note. Stephens also believes that Klaviyo is a potential takeout candidate.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KVYO:
- Klaviyo new products can expand total addressable market, says TD Cowen
- Klaviyo, Inc.: Promising Growth Prospects and Strategic Initiatives Drive Buy Rating
- Klaviyo management to meet virtually with KeyBanc
- Klaviyo’s Earnings Call: Strong Growth Amid Challenges
- Klaviyo price target raised to $55 from $42 at Truist