Why the expanded Canva partnership matters for Klaviyo (KVYO)

Klaviyo (KVYO) shares are in focus after the company and Canva expanded their integration, allowing marketers to design full campaigns in Canva and then personalize and deliver them at scale through Klaviyo.

The deeper connection to Canva’s large user base, along with new workflow and collaboration features, gives investors additional context for assessing how Klaviyo’s platform and partner ecosystem might influence demand for its B2C CRM and data tools.

At a share price of US$20.31, Klaviyo’s recent performance combines a strong 7 day share price return of 19.89% and a 30 day gain of 9.31% with a weaker 90 day share price return of 19.56% and a 1 year total shareholder return of 16.93%. This mix hints that near term momentum has picked up after a tougher stretch.

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With Klaviyo trading at US$20.31 and sitting at a 62% discount to the current analyst price target, yet carrying recent 90 day and 1 year declines, are investors looking at a mispriced growth story, or is the market already accounting for what comes next?

Most Popular Narrative: 38.9% Undervalued

Based on the most followed narrative, Klaviyo’s fair value of $33.24 sits well above the last close at $20.31, setting up a clear valuation gap for investors to scrutinize.

The rapid innovation and rollout of new AI-first products, including Conversational Agent, Helpdesk, and analytics, expands Klaviyo's addressable market from just marketing automation into broader B2C CRM and customer service, setting up significant opportunities for higher ARPU and long-term revenue growth.

Curious what kind of revenue ramp, margin profile, and future earnings multiple are reflected in that fair value gap? The narrative focuses on faster growth, rising profitability, and a premium valuation that most software names do not carry.

Result: Fair Value of $33.24 (UNDERVALUED)

However, this hinges on SMS and infrastructure costs not eroding margins further, and on AI products like Helpdesk and Customer Hub gaining real traction beyond current beta stages.

Next Steps

If the mix of optimism and caution in this story feels familiar, it may be a good time to review the numbers yourself and pressure test the narrative. To quickly see what stands out on the upside, check the 4 key rewards.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.