Weave price target lowered to $12 from $15 at Loop Capital

Loop Capital analyst Mark Schappel lowered the firm’s price target on Weave to $12 from $15 and keeps a Buy rating on the shares. The company’s Q3 results were solid as it made good strides towards profitability with further inroads in new markets, signs of stability in revenue retention, and continued product introductions, though the firm is cutting its price target to account for recent multiple compression in the broader software space, the analyst tells investors in a research note.