Weave Communications, Inc. (NYSE:WEAV) Stock Has Consensus Target Price of $7.84 According to Brokerages

Shares of Weave Communications, Inc. (NYSE:WEAV) have received a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.84.

Several analysts have recently issued reports on WEAV shares. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price objective on the stock. in a research note on Wednesday, August 19th. UBS Group reissued an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Weave Communications in a report on Friday, October 2nd. Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and reduced their price target for the company from $8.00 to $7.40 in a research report on Tuesday, August 18th. Finally, B. Riley Financial lowered Weave Communications from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.25 to $7.40 in a research report on Wednesday, August 19th.

Weave Communications Price Performance

Shares of WEAV opened at $7.38 on Friday. The company has a market cap of $590 million, a P/E ratio of -29.50 and a beta of 1.68. Weave Communications has a fifty-two week low of $4.24 and a fifty-two week high of $7.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average price is $7.00 and its 200 day moving average price is $6.15.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. On average, research analysts forecast that Weave Communications will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Weave Communications

A number of large investors have recently made changes to their positions in WEAV. BlackRock Inc. purchased a new position in Weave Communications in the second quarter worth approximately $31,807,000. Pale Fire Capital SE purchased a new stake in shares of Weave Communications in the 1st quarter valued at approximately $6,897,000. Engine Capital Management LP acquired a new stake in shares of Weave Communications in the 1st quarter valued at $4,858,000. Harber Asset Management LLC acquired a new stake in shares of Weave Communications in the 2nd quarter valued at $4,706,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Weave Communications in the 2nd quarter valued at $4,526,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Company Profile

Weave Communications, Inc provides cloud-based customer communication and payments software designed primarily for small and midsized healthcare practices. Its platform helps businesses manage interactions with patients and customers through a unified system rather than relying on separate phone, messaging, scheduling and payment tools.

Weave’s products and services include business phone systems, two-way texting, email communications, appointment scheduling, automated reminders, online reviews, payment processing and customer relationship management tools.