Klaviyo (KVYO) is trading higher today as bullish sell-side commentary circulates, with a newly reported price-target increase helping lift sentiment around the company’s growth-and-margin trajectory. A recent example of that tone is Scotiabank raising its price target to $35 from $30 while maintaining a Sector Perform rating.

With KVYO still trading well below many published targets, incremental upgrades and target lifts can have an outsized impact on day-to-day flows, especially when investors are focused on whether software names can re-accelerate while expanding operating margins. Separately, Klaviyo’s newly authorized $500 million share repurchase program (including a $100 million accelerated share repurchase) has reinforced the view that the company has flexibility to return capital, which can support dips and tighten the supply of shares available to the market.

Near-term attention is likely to shift to the next earnings catalyst and any updates to revenue growth, margins, and free-cash-flow expectations, since those inputs typically drive target-setting for high-growth software. Investors will also watch for disclosures around buyback pacing and execution, since accelerated or larger-than-expected repurchases can influence both sentiment and share-count expectations.