Goldman Sachs has raised its price target for Klaviyo Inc. to $22.50 from $20.00, while keeping a Neutral rating on the shares. The firm highlighted continued enterprise traction and agentic product usage during Klaviyo’s third-quarter 2026 earnings call. Despite an 180 basis points deceleration in revenue growth, the company posted 27% revenue growth over the last twelve months. However, its high P/E ratio of 738 has raised valuation concerns.
The firm noted that investors are focused on revenue growth stabilization, with guidance suggesting further deceleration and declines in net revenue retention. Goldman Sachs acknowledged Klaviyo’s efforts to drive customer adoption of agentic products but expressed caution on near-term upside. The company’s market cap stands at $6.08 billion.
In other recent news, Klaviyo reported third-quarter earnings that surpassed Wall Street expectations, with adjusted earnings of $0.22 per share compared to the predicted loss of $0.04 per share. Revenue reached $387.2 million, exceeding estimates by $7.2 million and marking a 25% increase from the previous year. The company raised its full-year 2026 revenue guidance for the third consecutive quarter.
Stifel raised its price target for Klaviyo to $26, maintaining a Buy rating, citing strong revenue performance and positive operating income projections. Mizuho lowered its price target to $24 but kept an Outperform rating due to concerns about growth outlook. Management highlighted significant adoption of AI products, though retention metrics remain under pressure.