Klaviyo price target raised to $45 from $35 at Scotiabank

Scotiabank raised the firm’s price target on Klaviyo (KVYO) to $45 from $35 and keeps a Sector Perform rating on the shares. The firm discussed with a Klaviyo partner to understand the dynamics and implications of the recently announced pricing changes, the analyst tells investors. Clients looking to minimize the impact will likely clean up their lists while the remainder of the client base is expected to have minimal pricing uplift, the firm adds. Ultimately, Scotiabank believes the pricing changes will likely create an easier glide path for the company to achieve consensus 25% growth estimates in calendar year 2025.