On September 3, Klaviyo, Inc. rose 6.73% in regular trading, trading at $20.52 per share, with turnover of $9.04 million. The rally was driven by broad-based strength across the AI application software sector, fueled by Salesforce's latest earnings and guidance both exceeding expectations, along with its newly announced partnership with Anthropic, effectively countering the prevailing bearish narrative around SaaS stocks.

The sector saw widespread gains, with Snowflake surging 23%, Datadog climbing 5%, Palantir Technologies up 8.99%, and Salesforce itself advancing 3.62%. The positive sentiment lifted Klaviyo, Inc. as a key player in AI-powered B2C CRM. The company has been actively expanding its AI capabilities, recently launching its Composer AI marketing agent into public beta and upgrading its Customer Agent platform, both designed to automate personalized marketing across channels.

Fundamentally, Klaviyo, Inc. reported Q2 revenue of $370.6 million, beating the consensus estimate of $362.1 million, while adjusted EPS of $0.19 came in line with expectations. Analysts maintain an average buy rating with a mean price target of $27. Truist recently adjusted its target to $30, maintaining a buy rating.

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