Klaviyo price target raised to $40 from $32 at Canaccord

Canaccord raised the firm’s price target on Klaviyo (KVYO) to $40 from $32 and keeps a Buy rating on the shares. The firm said they posted another strong quarter but management commentary on margins may have made investors nervous. However, as they enter a seasonally strong quarter, there’s clearly momentum in the business, and next year is looking good.