11 Stocks Failing to Keep up With The Market

3. Klaviyo, Inc. (NYSE:KVYO)

Klaviyo extended its losing streak to a fourth consecutive day on Tuesday, shedding 12.07 percent to end at $27.69 apiece, as investors continued to digest an investment firm’s price target reduction for its stock.

On Thursday, Klaviyo, Inc. (NYSE:KVYO) earned a new price target of $50 from Piper Sandler, lower than the $55 previously, following its first analyst day since 2023, where the company outlined its vision to transform to an AI-assisted platform from a marketing tool for retail brands.

Piper Sandler believed that despite its over 176,000 customers, Klaviyo, Inc. (NYSE:KVYO) was only able to capture 1 percent of its potential market.

Additionally, the company’s vision was said to be promising, but its fiscal 2028 operating margin of approximately 16 percent fell below analyst expectations, primarily due to pressure from its SMS business.

Despite the lower price target, Piper Sandler remained “overweight” for shares of Klaviyo, Inc. (NYSE:KVYO).