Weave Communications Shares (New York stock market :WEAVING) jumped 7% on Monday, after Loop Capital upgraded the infrastructure software company from “Buy” to “Hold” and raised the PT to $13.
The brokerage PT represents a 42.4% premium to Weave’s last close.
Loop Capital believes several factors needed to move Weave’s stock appear to be in line and sustainable over the long term.
The brokerage said Weave has now become an execution story, rather than the transition and turnaround story it has been for the past 18 months.
He believes Weave’s sales team is hitting its stride and should accelerate the company’s revenue growth. Loop Capital believes Weave is close to profitability.