Weave price target raised to $13 from $6 at Raymond James

Raymond James analyst Alexander Sklar raised the firm’s price target on Weave to $13 from $6 and keeps an Outperform rating on the shares. The analyst continues to gain confidence in the company’s business momentum following the better than expected Q1 results. Improved sales rep productivity, a broader lead-generation motion, and improving product functionality should support improving momentum into Q2 and the remainder of the year, the analyst tells investors in a research note. The firm continues to recommend adding to positions as it sees an improving profitability profile, an “attractive beat and raise set up,” and better visibility into Weave returning to 20% growth.