Klaviyo price target raised to $60 from $45 at Loop Capital

Loop Capital raised the firm’s price target on Klaviyo (KVYO) to $60 from $45 and keeps a Buy rating on the shares as part of a broader research note adjusting estimates for select Software names. The firm contends that the current valuation for Klaviyo shares is discounting the company’s growth opportunity ahead relative to its peers and also does not account for its positive margin profile and strong cash flow generation, the analyst tells investors in a research note.