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

Shares of Weave Communications, Inc. (NYSE:WEAV) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.00.

Several equities analysts have recently issued reports on the company. Raymond James raised Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a report on Monday, February 26th. Stifel Nicolaus increased their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Weave Communications in a research report on Thursday, February 22nd.

Weave Communications Price Performance

NYSE WEAV opened at $10.98 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.78 and a quick ratio of 1.78. The business has a fifty day simple moving average of $11.89 and a 200 day simple moving average of $10.55. Weave Communications has a 12 month low of $4.04 and a 12 month high of $13.80.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. The company had revenue of $45.69 million for the quarter, compared to analyst estimates of $44.24 million. As a group, equities research analysts expect that Weave Communications will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, CFO Alan Taylor sold 15,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $12.00, for a total transaction of $180,000.00. Following the sale, the chief financial officer now owns 480,813 shares of the company’s stock, valued at approximately $5,769,756. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.00% of the stock is owned by insiders.

Institutional Trading of Weave Communications

Several institutional investors and hedge funds have recently bought and sold shares of WEAV. Bank of New York Mellon Corp bought a new position in shares of Weave Communications in the first quarter worth $98,000. Citigroup Inc. grew its position in Weave Communications by 236.3% during the first quarter. Citigroup Inc. now owns 7,325 shares of the company’s stock worth $44,000 after buying an additional 5,147 shares in the last quarter. BlackRock Inc. increased its stake in Weave Communications by 31.6% in the 1st quarter. BlackRock Inc. now owns 135,395 shares of the company’s stock worth $807,000 after acquiring an additional 32,474 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Weave Communications in the 1st quarter valued at about $291,000. Finally, State Street Corp raised its holdings in shares of Weave Communications by 116.7% in the 1st quarter. State Street Corp now owns 86,024 shares of the company’s stock valued at $513,000 after acquiring an additional 46,333 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

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.