Weave Communications (NYSE:WEAV) Shares Gap Up – Time to Buy?

Weave Communications, Inc. (NYSE:WEAV) shares gapped up prior to trading on Tuesday . The stock had previously closed at $5.53, but opened at $7.29. Weave Communications shares last traded at $7.2950, with a volume of 15,869,601 shares.

Key Weave Communications News

Here are the key news stories impacting Weave Communications this week:

• Positive Sentiment: Francisco Partners will acquire Weave for $7.40 per share in cash, offering shareholders substantial price certainty and prompting the stock to trade close to the proposed transaction value. Weave Communications Enters $650 Million Take-Private Deal
• Positive Sentiment: The announced take-private transaction could deliver a cash exit for shareholders, while the strategic buyer may provide resources to support Weave’s growth outside the public markets. Healthcare software firm Weave Communications to go private after being acquired by Francisco Partners

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Weave Communications from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. B. Riley Financial reaffirmed a “neutral” rating and set a $7.40 price objective (down from $8.25) on shares of Weave Communications in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. Loop Capital reiterated a “hold” rating and issued a $7.40 target price on shares of Weave Communications in a research note on Wednesday. Finally, Piper Sandler downgraded shares of Weave Communications from an “overweight” rating to a “hold” rating and lowered their price target for the stock from $8.00 to $7.40 in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.84.

Weave Communications Trading Up 0.3%

The company has a fifty day moving average of $6.23 and a 200-day moving average of $5.67. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $584.40 million, a price-to-earnings ratio of -29.22 and a beta of 1.67.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The business had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. As a group, equities research analysts anticipate that Weave Communications, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently modified their holdings of WEAV. Amundi grew its stake in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after acquiring an additional 1,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Weave Communications by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after purchasing an additional 1,457 shares in the last quarter. Creative Planning acquired a new position in shares of Weave Communications during the 2nd quarter worth approximately $143,000. JPMorgan Chase & Co. boosted its holdings in shares of Weave Communications by 2.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 292,452 shares of the company’s stock worth $2,433,000 after purchasing an additional 7,651 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Weave Communications by 83.9% in the second quarter. Legal & General Group Plc now owns 65,657 shares of the company’s stock valued at $546,000 after purchasing an additional 29,958 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Company Profile

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.