Weave Communications (NYSE:WEAV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Weave Communications (NYSE:WEAV) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Weave Communications currently has an average rating of “Hold” and an average price target of $8.33.

Weave Communications Stock Up 1.1%

Shares of NYSE:WEAV opened at $5.52 on Friday. Weave Communications has a 52-week low of $4.24 and a 52-week high of $8.11. The stock has a market cap of $441.60 million, a P/E ratio of -22.08 and a beta of 1.67. The business’s 50 day moving average is $6.16 and its 200 day moving average is $5.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting 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 company had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. Sell-side analysts predict that Weave Communications will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently bought and sold shares of the business. Amundi lifted its holdings 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 buying an additional 1,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $265,000 after acquiring an additional 1,457 shares during the period. Creative Planning bought a new position in shares of Weave Communications in the 2nd quarter worth $143,000. JPMorgan Chase & Co. raised its position in shares of Weave Communications by 2.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 292,452 shares of the company’s stock worth $2,433,000 after acquiring an additional 7,651 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Weave Communications by 83.9% during the 2nd quarter. Legal & General Group Plc now owns 65,657 shares of the company’s stock worth $546,000 after purchasing an additional 29,958 shares during 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.