Klaviyo soars on Q2 beat, cheery rev guidance, Wall Street upgrade
** Klaviyo Inc's KVYO.N shares up 22.2% premarket to $28.20, over 5-mth high, after marketing automation firm's qtrly results, forecast exceed expectations
** KVYO shares on course for biggest daily pct gain since co went public last Sept
** Co late Weds posted 35% yr/yr rev growth in Q2 of $222 mln and non-GAAP EPS of 15 cents
** Analysts on avg had called for rev of $212 mln and non-GAAP profit of 11 cents/sh, per LSEG
** Co now forecasts FY 2024 rev of $910-$918 mln, compared to prior guidance of $899-$907 mln
** KeyBanc upgrades to "overweight" from "sector weight", sets PT at $33
** KVYO has bucked the trend seen at front office software peers in 2024 showing accelerating rev as a number of growth drivers are hitting at once, KeyBanc said in note
** Barclays, TD Cowen and Mizuho raised their respective PTs reacting to report
** Now, 14 of 17 analysts rate KVYO "strong buy" or "buy", rest "hold" and median PT is $34.50 - LSEG
** Through Weds, KVYO shares down 17% YTD and still below their $30 IPO price
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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