Weave Communications (NYSE:WEAV) Issues Quarterly Earnings Results, Meets Estimates

Weave Communications (NYSE:WEAV) issued its quarterly earnings data on Thursday. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03, FiscalAI reports. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 42.10%. The firm had revenue of $63.40 million for the quarter, compared to analyst estimates of $63.19 million.

Weave Communications Stock Performance

NYSE:WEAV traded down $0.02 during mid-day trading on Thursday, reaching $5.70. 2,547,765 shares of the company’s stock were exchanged, compared to its average volume of 1,980,758. Weave Communications has a one year low of $5.37 and a one year high of $17.17. The business’s fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $6.92. The firm has a market capitalization of $444.77 million, a PE ratio of -13.26 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24.

Insider Buying and Selling at Weave Communications

In related news, insider Erin Goodsell sold 9,615 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $6.89, for a total transaction of $66,247.35. Following the completion of the sale, the insider owned 527,055 shares of the company’s stock, valued at $3,631,408.95. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 18.40% of the company’s stock.

Institutional Trading of Weave Communications

Large investors have recently bought and sold shares of the business. Amundi increased its position in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after purchasing an additional 1,130 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Weave Communications by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after purchasing an additional 4,731 shares during the last quarter. RPO LLC bought a new stake in Weave Communications during the fourth quarter valued at $81,000. Schonfeld Strategic Advisors LLC bought a new stake in Weave Communications in the fourth quarter worth approximately $84,000. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Weave Communications during the 4th quarter valued at $87,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WEAV. Piper Sandler decreased their target price on Weave Communications from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Stifel Nicolaus reduced their target price on Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research note on Monday, December 29th. Raymond James Financial cut shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, January 6th. Finally, Citigroup lowered their price objective on shares of Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.50.

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.