Weave Communications, Inc. (NYSE:WEAV) Receives $8.33 Consensus Target Price from Analysts

Shares of Weave Communications, Inc. (NYSE:WEAV) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.3333.

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Weave Communications from a “hold” rating to a “buy” rating in a research note on Saturday.

Weave Communications Stock Up 1.1%

Shares of NYSE:WEAV opened at $5.52 on Friday. Weave Communications has a 1 year low of $4.24 and a 1 year high of $8.11. The company has a market capitalization of $441.60 million, a PE ratio of -22.08 and a beta of 1.67. The business has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $5.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Analysts forecast that Weave Communications will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP bought a new position in Weave Communications during the second quarter valued at $120,000. Bank of America Corp DE purchased a new stake in Weave Communications in the second quarter worth $2,999,000. Man Group plc bought a new stake in shares of Weave Communications in the second quarter valued at $1,348,000. Meros Investment Management LP bought a new stake in shares of Weave Communications in the second quarter valued at $3,323,468,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Weave Communications during the 2nd quarter valued at $125,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.