Klaviyo, Inc. (KVYO) saw its shares plummet 6.18% during intraday trading on Wednesday, reversing earlier gains.

The stock had initially risen 7.8% in pre-market trading after the company reported better-than-expected fourth-quarter financial results and issued fiscal year 2026 sales guidance above analyst estimates.

However, the gains were erased as multiple analysts cut their price targets on Klaviyo following the earnings announcement. Firms including Barclays, Wells Fargo, Morgan Stanley, Jefferies, and Truist Securities were among those reducing their targets, citing various concerns despite the positive results.