Bullish Klaviyo Analyst Cites 3 Main Catalysts That Bode Well For Stock In 2024
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Gabriela Borges upgraded Klaviyo Inc (NYSE:KVYO) from Neutral to Buy, maintaining a price target of $36. Despite a 22% underperformance over the past three months, Borges sees 2024 as a pivotal year with three main catalysts: overdone concerns around email spam filtering changes, potential market share gains, and upside to estimates from company-specific drivers and stable consumer spending. Shares of Klaviyo rose 4.8% in premarket trading.
February 05, 2024 | 5:42 pm
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Goldman Sachs upgraded Klaviyo to Buy, maintaining a $36 price target. The upgrade is based on three catalysts expected to drive growth in 2024, despite recent underperformance.
The upgrade by Goldman Sachs, a major financial institution, signals strong confidence in Klaviyo's future performance. The identified catalysts for 2024 suggest potential for significant growth, making this news highly relevant and important for investors. The recent underperformance is seen as a buying opportunity, indicating a positive outlook for the stock's short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100