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Klaviyo shares get Outperform rating, $35 price target

EditorAhmed Abdulazez Abdulkadir
Published 03/20/2024, 07:20 AM
© Reuters.

On Wednesday, Klaviyo Inc (NYSE:KVYO), a software-as-a-service (SaaS) platform provider, received an Outperform rating from FBN Securities, with a price target set at $35.00. The new coverage highlights Klaviyo's integrated SaaS platform, which is designed to help companies utilize their own first-party data to craft personalized digital consumer experiences.

The platform's unique selling point, according to the securities firm, lies in its combination of a Data Layer and an Application Layer. This integration allows businesses to send timely and relevant messages to customers through various channels such as email, SMS, and push notifications. The approach stands in contrast to other competing solutions which may separate data management and application functionalities.

FBN Securities pointed out the elegance of Klaviyo's solution, emphasizing the potential for businesses to enhance customer interactions by leveraging data they already own. The company's technology enables more effective communication strategies by allowing for a high degree of personalization in customer outreach.

The Outperform rating indicates that the securities firm sees Klaviyo's stock performing better than the average return of the stocks it covers. The $35.00 price target suggests a level of confidence in the company's growth prospects and the effectiveness of its SaaS platform in the competitive digital marketing space.

Klaviyo's focus on integrated data handling and application services positions it as a notable player in the SaaS industry, providing tools for businesses to optimize their marketing efforts in the digital era. The Outperform rating and price target reflect expectations for the company's future performance in the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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