Several analysts initiated coverage on Klaviyo Inc (NYSE: KVYO) following its trading debut last month.
In September, marketing and data automation provider Klaviyo priced its initial public offering above expectations, raising $576 million.
Piper Sandler analyst Brent A. Bracelin initiated coverage with an Overweight Rating and price target of $38.
The bullish rating reflects untapped potential with just 4% logo penetration at Shopify Inc (NYSE: SHOP), a disciplined strategy of balancing 30% growth and 10%+ non-GAAP operating margin, and a diversified revenue base and pricing standard.
Also Read: Full story available on Benzinga.com