Klaviyo price target raised to $50 from $45 at Piper Sandler

Piper Sandler raised the firm’s price target on Klaviyo (KVYO) to $50 from $45 and keeps an Overweight rating on the shares. The firm believes the next $1 trillion annual spend could occur within 7 years, in part elevated by the new AI era and digital labor functions that can be absorbed into the application and data layers with reasoning engines. Large strategics with expansive distribution reach are advantaged with the inherent ability to surface new AI features to the enterprise masses. 2025-2026 could usher in a renewed appetite to invest in the application and data layers after three years of moderating growth, Piper adds.