Weave Communications (NYSE:WEAV) Cut to Hold at Loop Capital

Loop Capital lowered shares of Weave Communications (NYSE:WEAV) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has $7.40 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. UBS Group restated an “accumulate” rating on shares of Weave Communications in a research note on Tuesday. B. Riley Financial began coverage on shares of Weave Communications in a research report on Tuesday. They set a “buy” rating and a $8.25 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Piper Sandler lowered shares of Weave Communications from an “overweight” rating to a “hold” rating and lowered their price target for the company from $8.00 to $7.40 in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Weave Communications from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.84.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $7.30 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $6.30 and a two-hundred day simple moving average of $5.68. Weave Communications has a 1-year low of $4.24 and a 1-year high of $8.11. The firm has a market cap of $584 million, a price-to-earnings ratio of -29.20 and a beta of 1.67.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $67.54 million for the quarter, compared to analyst estimates of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Analysts anticipate that Weave Communications will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Weave Communications during the fourth quarter valued at about $26,000. Optiver Holding B.V. lifted its holdings in shares of Weave Communications by 1,201.2% in the first 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 in the last quarter. Legal & General Group Plc bought a new position in shares of Weave Communications in the second quarter valued at approximately $38,000. Amundi boosted its position in shares of 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 acquiring an additional 1,130 shares during the period. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Weave Communications during the second quarter valued at approximately $60,000. Institutional investors own 86.83% of the company’s stock.

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.