Baird cuts PT on Klaviyo citing omission of revenue target

Baird cuts PT on marketing automation platform Klaviyo KVYO.N to $39 from $45, retains "outperform" rating

Brokerage says company has strong growth potential operating in areas like customer experience and artificial intelligence, however absence of revenue guidance has raised eyebrows

"The lack of a revenue target overshadowed an otherwise strong event,", Baird says and may cap valuation upside in the near-term

20 of 21 brokerages rate stock "buy" or higher, one "hold" ; median PT is $45.5 - data compiled by LSEG

As of last close, KVYO down 21.2% YTD