Michael Funk, an analyst from Bank of America Securities, reiterated the Buy rating on Weave Communications. The associated price target remains the same with $13.00.
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Michael Funk’s rating is based on Weave Communications’ strong performance and strategic initiatives. The company’s second-quarter results surpassed expectations, particularly in specialized medical sectors, demonstrating strong momentum. The acquisition of TrueLark, an AI-driven platform, enhances Weave’s service offerings, potentially increasing customer retention and average revenue per user through expanded payment solutions.
Furthermore, Weave’s guidance for the latter half of 2025 suggests an acceleration in growth, supported by strategic hiring and sales team expansion. Despite a slight decline in net and gross revenue retention, the company maintained its full-year revenue guidance and increased its non-GAAP operating income forecast. These factors, combined with a valuation that offers a discount compared to peers, underpin Funk’s Buy rating and a price objective of $13.
In another report released on August 1, Raymond James also maintained a Buy rating on the stock with a $15.00 price target.