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KVYO · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Klaviyo, Inc. (KVYO) stock moving?
Klaviyo reported Q3 2026 revenue of $387.2M and adjusted EPS of $0.22, both ahead of estimates, and raised full-year 2026 sales guidance to $1.537B-$1.541B from $1.526B-$1.534B. The Q4 sales outlook of $421M-$425M is roughly in line, with its midpoint slightly under the $422.4M estimate, so the forward guide is solid rather than exceptional. An 8-K filed for the results also discloses a newly authorized share repurchase program. Analyst reaction has been positive: Citigroup (Buy, $38), Wells Fargo (Overweight, $24), Barclays (Overweight, $23) and Macquarie (Neutral, raised to $23 from $19) all raised targets between Oct 28 and Nov 6. Price action has not fully confirmed the good news. Shares closed at $20.18-$20.71 in late October, spiked to a $22.14 high with 11.3M volume on Nov 2 (no news item in this set explains that move), and closed at $21.36 on the Nov 4 earnings day. They then gave back the gains, with a $22.20 high on Nov 5 followed by a $20.81 close, and on Nov 10 hit a $19.00 low before closing at $20.43. Volume has stayed elevated (about 5-7M shares a day versus 3-4M before earnings), which points to active trading rather than a clean breakout. The $20-$22 band has held so far.
News behind the analysis
- Klaviyo Reports Q3 2026 Financial ResultsKlaviyo reported Q3 2026 revenue of $387.2M and adjusted EPS of $0.22, both above analyst expectations.
- Klaviyo Q3 Adj. EPS $0.22 Beats $0.17 Estimate, Sales $387.207M Beat $379.866M EstimateQ3 adjusted EPS and sales both beat consensus, with adjusted EPS well ahead of the $0.17 estimate.
- Klaviyo Raises FY2026 Sales Guidance from $1.526B-$1.534B to $1.537B-$1.541B vs $1.531B EstFull-year 2026 sales guidance was raised to $1.537B-$1.541B, above the $1.531B estimate.
- Klaviyo Sees Q4 Sales $421.000M-$425.000M vs $422.441M EstQ4 sales guidance of $421M-$425M brackets the $422.4M estimate, with the midpoint slightly below it.
- Barclays Maintains Overweight on Klaviyo, Raises Price Target to $23Barclays kept its Overweight rating and raised its price target from $22 to $23.
- Barclays Raises Klaviyo Price Target to $23Barclays maintained its Overweight rating on Klaviyo and lifted its price target to $23.
- Macquarie Adjusts Klaviyo Price Target to $23 From $19Macquarie raised its price target from $19 to $23 but kept a Neutral rating.
- Citigroup Maintains Buy on Klaviyo, Raises Price Target to $38Citigroup kept its Buy rating and raised its price target to $38, well above the current share price.
- Wells Fargo Raises Klaviyo Price Target to $24.00Wells Fargo raised its price target from $22.00 to $24.00 and maintained an Overweight stance.
About Klaviyo, Inc.
Klaviyo is a Boston-based software company whose platform lets online brands send email, SMS and other marketing messages and run customer service, all based on their own customer data. It started out serving Shopify merchants, is now used by more than 205,000 brands, and is pushing into larger enterprise customers and AI-driven marketing tools.
How it makes money
Nearly all revenue comes from subscriptions. Pricing is mainly set by how many contacts a customer keeps on the platform and how many emails or texts it sends. Extra revenue comes from SMS messaging (which includes pass-through carrier costs and hurts gross margin), plus add-ons such as reviews, customer data and analytics tools. Quarterly revenue was about $387 million in Q3 2026, and the company has guided to roughly $1.5 billion for full-year 2026.
What usually moves KVYO
- Revenue growth rate and full-year guidance changes
- E-commerce activity and the health of small and mid-sized online merchants
- Winning enterprise and international customers
- Gross margin pressure from SMS carrier fees and AI investment
- Competition and takeover activity in marketing software