Klaviyo, Inc.

Goldman Sachs initiated coverage with a Buy rating and $26 price target, citing Klaviyo's exposure to multiple growth vectors, high-20% revenue growth, and expansion opportunities in up-market segments, international markets, and outside of eCommerce. The firm also expects new product cycles in AI and Service to further accelerate growth.

Stifel cut its price target from $28 to $24, flagging that Klaviyo's Q1 2026 revenue beat of 2.9% fell short of the 4.0%–5.4% range seen throughout 2024 and 2025. The firm set a 3.0% beat as the investor benchmark, warning that tighter guidance precision may signal slowing momentum.

Canaccord Genuity reiterated a Buy rating with a $32 price target, viewing Klaviyo as an underappreciated growth story in mid-cap software. The consensus forecast projects the company will generate a profit of $24 million in 2026, supported by a strong 75% gross profit margin.

Piper Sandler reduced its price target from $30 to $26, maintaining an Overweight rating but explicitly citing margin concerns. The company remains unprofitable, and achieving the forecasted 2026 profit requires 75% earnings growth, leaving execution risk elevated.

Incoming CFO Erica Smith brings substantial public-company financial leadership experience from CyberArk and Demandware, where she led investor relations, expanded sell-side research coverage, and guided companies through public financings — credentials that could strengthen Klaviyo's capital markets credibility.

The departure of CFO Amanda Whalen, who announced her resignation in May 2026 and will transition to an advisory role by November, introduces leadership uncertainty at a critical juncture when Klaviyo is under pressure to demonstrate consistent profitability and meet tightening guidance expectations.