Klaviyo is trading at $17.16, down 5.14% during the October 16 session, after Goldman Sachs downgraded it from Buy to Neutral and cut its price target.
- The target was reduced from $27 to $20.
- The analyst cited lower confidence in the timing and scale of newer growth initiatives and a cautious view of small-business software spending; Investing.com reported the downgrade as a catalyst for premarket weakness.
- No new company announcement was identified; Q3 results are scheduled for November 4.