Brokerages Set Weave Communications, Inc. (NYSE:WEAV) PT at $7.84

Weave Communications, Inc. (NYSE:WEAV) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.84.

A number of research firms recently weighed in on WEAV. B. Riley Financial cut shares of Weave Communications from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $8.25 to $7.40 in a research report on Wednesday, August 19th. Wall Street Zen cut Weave Communications from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Piper Sandler lowered 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 research report on Tuesday, August 18th. Raymond James Financial downgraded Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday, August 24th. Finally, UBS Group reissued an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th.

Weave Communications Trading Up 0.1%

Shares of Weave Communications stock opened at $7.30 on Wednesday. The firm has a market capitalization of $584.39 million, a price-to-earnings ratio of -29.22 and a beta of 1.69. Weave Communications has a fifty-two week low of $4.24 and a fifty-two week high of $7.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50 day moving average of $6.79 and a 200 day moving average of $5.83.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates 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. As a group, research analysts predict that Weave Communications will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Weave Communications in the 4th quarter valued at $26,000. Amundi increased its holdings in Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares during the last quarter. California State Teachers Retirement System increased its holdings in Weave Communications by 51.0% in the second quarter. California State Teachers Retirement System now owns 5,397 shares of the company’s stock valued at $32,000 after buying an additional 1,822 shares during the last quarter. Legal & General Group Plc acquired a new stake in Weave Communications in the second quarter valued at $38,000. Finally, Optiver Holding B.V. lifted its holdings in Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock worth $34,000 after buying an additional 6,775 shares during the last quarter. 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.