Jefferies reduced its price target on Klaviyo shares from $35 to $29 while reaffirming a Buy rating, reflecting both confidence in the company’s growth trajectory and caution over valuation multiples. Benchmark Co. also trimmed its target to $30, signaling mixed analyst views on near-term upside.

Klaviyo delivered Q4 revenue growth that outpaced consensus estimates, driven by strong demand for its AI-first CRM and marketing automation platform. The company highlighted resilient customer spending on personalized email, SMS and digital campaigns despite broader debate over AI-driven marketing efficiency.

Management increased full-year 2026 revenue guidance to a range of $1.50–1.51 billion, implying 21.5%–22.5% year-over-year growth versus a $1.48 billion consensus. The outlook also calls for continued operating margin expansion as scale and AI-driven automation improve profitability.

Co-CEO Andrew Bialecki emphasized that Klaviyo’s structural advantages—its cloud-native infrastructure and data platform—enable AI tools to enhance engagement at scale. He described Klaviyo as a ‘revenue-yield engine’ poised to benefit from increasing volume and sophistication of consumer interactions.