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

Weave Communications, Inc. (NYSE:WEAV) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $14.00.

A number of equities research analysts recently commented on WEAV shares. Stifel Nicolaus upped their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a research report on Thursday, February 22nd. Finally, Raymond James raised 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 note on Monday, February 26th.

Weave Communications Trading Up 0.1 %

Shares of NYSE:WEAV opened at $10.98 on Friday. The company has a 50 day moving average of $11.89 and a 200-day moving average of $10.55. Weave Communications has a one year low of $4.04 and a one year high of $13.80. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08.

Weave Communications (NYSE:WEAV) last released 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 firm had revenue of $45.69 million during the quarter, compared to analyst estimates of $44.24 million. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. On average, sell-side analysts anticipate that Weave Communications will post -0.37 EPS for the current fiscal year.

Insider Activity

In related news, CFO Alan Taylor sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $12.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief financial officer now directly owns 480,813 shares of the company’s stock, valued at approximately $5,769,756. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 41.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Edmonds Duncan Registered Investment Advisors LLC acquired a new stake in shares of Weave Communications in the 1st quarter valued at about $137,000. Counterpoint Mutual Funds LLC bought a new position in shares of Weave Communications during the first quarter worth about $138,000. Vanguard Group Inc. raised its position in Weave Communications by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,030,289 shares of the company’s stock valued at $34,757,000 after buying an additional 87,496 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Weave Communications by 27.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 106,661 shares of the company’s stock valued at $1,223,000 after acquiring an additional 22,825 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in Weave Communications by 162.0% during the 4th quarter. GSA Capital Partners LLP now owns 74,732 shares of the company’s stock worth $857,000 after acquiring an additional 46,213 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

About Weave Communications

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.