Weave Communications, Inc. (NYSE:WEAV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Weave Communications, Inc. (NYSE:WEAV) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.00.

Several analysts have recently commented on the stock. Raymond James upgraded shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research report on Monday, February 26th. Stifel Nicolaus lifted their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective on shares of Weave Communications in a report on Thursday, February 22nd.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $11.10 on Friday. The firm has a market cap of $787.52 million, a P/E ratio of -24.66 and a beta of 2.25. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $11.97 and a 200 day moving average of $10.55. Weave Communications has a twelve month low of $4.04 and a twelve month high of $13.80.

Weave Communications (NYSE:WEAV) last announced its earnings results on Wednesday, February 21st. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $44.24 million. Weave Communications had a negative return on equity of 31.93% and a negative net margin of 18.20%. As a group, research analysts expect that Weave Communications will post -0.37 EPS for the current fiscal year.

Insider Activity

In other Weave Communications news, CFO Alan Taylor sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $12.00, for a total transaction of $180,000.00. Following the sale, the chief financial officer now owns 480,813 shares of the company’s stock, valued at approximately $5,769,756. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 41.86% of the company’s stock.

Institutional Trading of Weave Communications

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in Weave Communications during the first quarter worth $98,000. Citigroup Inc. boosted its stake in Weave Communications by 236.3% during the first quarter. Citigroup Inc. now owns 7,325 shares of the company’s stock worth $44,000 after buying an additional 5,147 shares during the period. BlackRock Inc. lifted its position in shares of Weave Communications by 31.6% during the first quarter. BlackRock Inc. now owns 135,395 shares of the company’s stock worth $807,000 after purchasing an additional 32,474 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Weave Communications during the first quarter worth about $291,000. Finally, State Street Corp lifted its position in shares of Weave Communications by 116.7% during the first quarter. State Street Corp now owns 86,024 shares of the company’s stock worth $513,000 after purchasing an additional 46,333 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, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.