13 High Growth Cloud Stocks to Buy

3. Klaviyo, Inc. (NYSE:KVYO)

3-year Revenue Growth: 47.75%

Number of Hedge Fund Holders: 48

On February 3, Piper Sandler lowered its price target on Klaviyo, Inc. (NYSE:KVYO) to $30 from $45 while reiterating an Overweight rating, also following a transfer of coverage. Similar to other names in the platforms and apps group, the target reduction reflects broader sector-level concerns around multiples rather than a change in Klaviyo’s underlying business performance. Piper noted ongoing pessimism toward software stocks despite recent share price declines.

Klaviyo, Inc. (NYSE:KVYO) delivered strong results in the third quarter of fiscal 2025, with revenue rising 32% year-over-year to $311 million. Growth was driven by healthy new customer additions and multiproduct adoption among existing clients. The company continues to integrate agentic AI into its platform, with AI-enabled features contributing to higher engagement metrics such as open rates and attributed revenue value for customers.

Founded in 2012 and headquartered in Boston, Klaviyo, Inc. (NYSE:KVYO) offers an AI-driven marketing automation and customer data platform tailored primarily to e-commerce businesses. As brands increasingly prioritize first-party data and personalized outreach, Klaviyo’s expanding feature set positions it to remain a relevant player despite near-term valuation pressure across the software landscape.