Weave price target lowered to $12 from $15 at Piper Sandler

Piper Sandler analyst Brent Bracelin lowered the firm’s price target on Weave (WEAV) to $12 from $15 and keeps an Overweight rating on the shares. The firm says Q3 results were solid, punctuated by revenue growth that reaccelerated to 17% year-over-year, albeit on an easier compare and benefiting from the recent TrueLark acquisition. Piper was encouraged by momentum in specialty medical, payments, and mid-market.