Piper Sandler Cuts Klaviyo Price Target 33% to $30 on Valuation Slump
Piper Sandler lowered Klaviyo’s price target to $30 from $45 and maintained an Overweight rating, citing sector-wide multiple contraction. The analyst noted continued pessimism toward software stocks despite Klaviyo’s 32% third-quarter revenue growth to $311 million driven by AI-enabled product adoption.
1. Analyst Price Target Adjustment
On February 3, Piper Sandler reduced Klaviyo’s price target from $45 to $30 while reiterating an Overweight rating. The revision reflects broader platforms and apps group valuation concerns rather than changes in Klaviyo’s core performance.
2. Third-Quarter Financial Performance
In fiscal 2025’s third quarter, Klaviyo delivered 32% year-over-year revenue growth, reaching $311 million. Growth drivers included robust new customer additions and expanded adoption of AI-driven features within its marketing automation platform.
3. Sector Valuation Dynamics
Analysts highlighted persistent pessimism toward software stocks following recent share price declines across the sector. Despite Klaviyo’s strong operational results and AI integration momentum, near-term multiples remain under pressure.