Financial services firm Baird has revised its price target for Klaviyo (KVYO, Financial), bringing it down to $37 from the previous estimate of $54. Despite this adjustment, Baird maintains an Outperform rating on the company's shares.
The revision comes as Baird reassesses its projections in light of prevailing economic uncertainties. These concerns have prompted a cautious approach to estimating Klaviyo's near-term financial performance. However, analysts at Baird highlight that business developments involving Shopify (SHOP) provide a favorable outlook, indicating underlying strengths that could benefit Klaviyo in the future.
