Weave Communications, Inc. (NYSE:WEAV) Stock Rated “Hold” by Wall Street Brokerages

Shares of Weave Communications, Inc. (NYSE:WEAV) have earned an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.80.

WEAV has been the topic of several research analyst reports. Wall Street Zen cut shares of Weave Communications from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Loop Capital downgraded Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a research note on Wednesday, August 19th. UBS Group reaffirmed an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th. Raymond James Financial lowered Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday, August 24th. Finally, Weiss Ratings raised Weave Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 20th.

Weave Communications Trading Up 0.3%

NYSE:WEAV opened at $7.42 on Thursday. 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 business’s 50-day simple moving average is $7.36 and its 200 day simple moving average is $6.17. The stock has a market cap of $593.51 million, a price-to-earnings ratio of -29.68 and a beta of 1.68. Weave Communications has a one year low of $4.24 and a one year high of $7.70.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. As a group, sell-side analysts predict that Weave Communications will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently made changes to their positions in WEAV. Optiver Holding B.V. lifted its stake in shares of Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after buying an additional 6,775 shares in the last quarter. Legal & General Group Plc bought a new stake in Weave Communications during the 2nd quarter valued at approximately $38,000. Integrated Wealth Concepts LLC purchased a new position in Weave Communications during the second quarter valued at $54,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Weave Communications during the second quarter valued at approximately $60,000. Finally, Two Sigma Securities LLC purchased a new stake in Weave Communications in the 2nd quarter worth approximately $62,000. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

Weave Communications, Inc provides an all-in-one customer communication and engagement platform for small and midsize businesses. Its software is designed to help businesses manage interactions with customers, streamline operations, and improve retention through a unified system.

The company’s platform combines business phone services, two-way texting, email, website chat, appointment scheduling, automated reminders, online payments, review management, and customer relationship management tools.