WEJO - This connected-vehicle play has Baird seeing 83% upside as revenue ramps

Baird is out with a very bullish initiation of a stock that's recently come public via the special-purpose acquisition company route - and has a potentially "massive" total addressable market in connected vehicles. The firm is starting Wejo (NASDAQ:WEJO) at Outperform, saying it's "pioneering the connected vehicle data market with a superior near-real-time direct-from-vehicle aggregation" approach that it enables through an "impressive list" of 17 OEM/Tier 1 partnerships. That means data potentially from hundreds of sensors across a variety of auto makes and models - standardized by Wejo into a common data model, analyst Jeffrey Meuler notes. Wejo's merger with blank-check firm Virtuoso Acquisition closed Nov. 18. The company was an early mover, signing its first OEM data contract in December 2018, and saw some early monetizing for foundational value. "It has: long-term contracted OEM preferred partner relationships/integrations; designed for multiple data privacy regulations; operational tech stack collecting data at

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This connected-vehicle play has Baird seeing 83% upside as revenue ramps