Weave Communications (NYSE:WEAV) Cut to “Hold” at Piper Sandler

Piper Sandler lowered shares of Weave Communications (NYSE:WEAV) from an overweight rating to a hold rating in a report released on Tuesday, Marketbeat Ratings reports. Piper Sandler currently has $7.40 price target on the stock, down from their previous price target of $8.00.

WEAV has been the topic of several other research reports. Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. Finally, B. Riley Financial started coverage on shares of Weave Communications in a research report on Tuesday. They set a “buy” rating and a $8.25 target price on the stock. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.84.

Weave Communications Stock Performance

WEAV opened at $7.31 on Tuesday. The stock has a market cap of $584.80 million, a PE ratio of -29.24 and a beta of 1.67. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 1 year low of $4.24 and a 1 year high of $8.11. The stock’s 50 day simple moving average is $6.27 and its 200-day simple moving average is $5.67.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $67.54 million during the quarter, compared to analyst estimates of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Sell-side analysts forecast that Weave Communications will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new stake in Weave Communications in the 4th quarter valued at $26,000. Amundi raised its stake in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares in the last quarter. Legal & General Group Plc acquired a new position in Weave Communications during the second quarter worth $38,000. Optiver Holding B.V. lifted its holdings in shares of Weave Communications by 1,201.2% during the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after acquiring an additional 6,775 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Weave Communications by 119.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock valued at $72,000 after acquiring an additional 4,731 shares during the period. Institutional investors own 86.83% of the company’s stock.

Key Stories Impacting Weave Communications

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

• Positive Sentiment: Francisco Partners has agreed to acquire Weave Communications in a transaction valued at approximately $650 million. The take-private deal offers investors a defined potential exit value and reduces uncertainty around the company’s standalone growth and profitability outlook. Weave Communications to be acquired by Francisco Partners for $650M
• Neutral Sentiment: Recent analyst activity has become less relevant to the stock’s long-term valuation because of the pending acquisition. Loop Capital and B. Riley Financial downgraded Weave to “hold,” while Piper Sandler also lowered its rating; B. Riley reportedly set a $7.40 price target. These actions suggest limited upside outside the transaction terms. Weave Communications Stock Rating Lowered by Piper Sandler
• Negative Sentiment: Shareholder law firms Ademi LLP and Halper Sadeh LLC are investigating whether Weave’s board obtained a fair price and whether insiders could receive benefits unavailable to ordinary shareholders. Such investigations may create legal and closing uncertainty, although they do not by themselves indicate that the transaction will fail. Shareholder Alert: Ademi LLP investigates whether Weave Communications is obtaining a fair price

About Weave Communications

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.