Perella Weinberg Partners (NASDAQ:PWP) is one of the 10 best small-cap financial stocks to buy now. On June 12, Goldman Sachs reduced its target price on Perella Weinberg Partners (NASDAQ:PWP) from $18 to $16 and reiterated its Sell rating on the stock. However, the broader consensus sentiment remains moderately bullish. This, along with workforce-related expense reduction plans, has led to some level of optimism.
As of June 18 closing, the stock had been assigned 2 Buy ratings and 1 Sell rating by analysts. Based on a median 1-year price target of $23.17, it offers an upside potential of almost 45%.
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Back on May 28, Dani Burger from Bloomberg reported that Perella Weinberg Partners is initiating a workforce reduction plan, which will lead to a nearly 10% reduction in its existing workforce, which currently comprises approximately 700 individuals. The plan would also include laying off roughly a dozen partners.
Burger noted that these layoffs will be concentrated across certain industry verticals that have recently performed poorly relative to the broader market trajectory.
Perella Weinberg Partners is an independent advisory firm that serves healthcare, industrials, consumer, energy, finance, and tech industries. It delivers strategic advisory services on various types of mandates, including mergers & acquisitions, restructuring, private capital placements, and financing.
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