Klaviyo, Inc. (KVYO) Price Target Reduced to $30 at Piper Sandler on Software Multiple Pressure

We recently published an article titled 13 High Growth Cloud Stocks to Buy. 

On February 3, Piper Sandler lowered its price target on Klaviyo, Inc. (NYSE:KVYO) to $30 from $45 while reiterating an Overweight rating, also following a transfer of coverage. Similar to other names in the platforms and apps group, the target reduction reflects broader sector-level concerns around multiples rather than a change in Klaviyo’s underlying business performance. Piper noted ongoing pessimism toward software stocks despite recent share price declines.

Klaviyo, Inc. (NYSE:KVYO) delivered strong results in the third quarter of fiscal 2025, with revenue rising 32% year-over-year to $311 million. Growth was driven by healthy new customer additions and multiproduct adoption among existing clients. The company continues to integrate agentic AI into its platform, with AI-enabled features contributing to higher engagement metrics such as open rates and attributed revenue value for customers.

Founded in 2012 and headquartered in Boston, Klaviyo, Inc. (NYSE:KVYO) offers an AI-driven marketing automation and customer data platform tailored primarily to e-commerce businesses. As brands increasingly prioritize first-party data and personalized outreach, Klaviyo’s expanding feature set positions it to remain a relevant player despite near-term valuation pressure across the software landscape.

While we acknowledge the potential of KVYO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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