Weave Communications, Inc. (NYSE:WEAV) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Weave Communications, Inc. (NYSE:WEAV) have received an average rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.84.

Several analysts recently issued reports on WEAV shares. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a research note on Wednesday, August 19th. UBS Group reaffirmed an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. Wall Street Zen cut Weave Communications from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. B. Riley Financial cut Weave Communications from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.25 to $7.40 in a research note on Wednesday, August 19th. Finally, Raymond James Financial downgraded Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday, August 24th.

Weave Communications Stock Down 0.1%

Shares of NYSE WEAV opened at $7.30 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 52 week low of $4.24 and a 52 week high of $7.97. The firm’s fifty day moving average is $6.79 and its 200 day moving average is $5.83. The company has a market cap of $584.40 million, a price-to-earnings ratio of -29.22 and a beta of 1.69.

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

Institutional Investors Weigh In On Weave Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Weave Communications during the fourth quarter valued at about $26,000. California State Teachers Retirement System boosted its position in Weave Communications by 51.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,397 shares of the company’s stock valued at $32,000 after acquiring an additional 1,822 shares in the last quarter. Optiver Holding B.V. boosted its position in Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after acquiring an additional 6,775 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Weave Communications during the 2nd quarter worth approximately $38,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Weave Communications in the 2nd quarter worth approximately $54,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Company Profile

Weave Communications, Inc provides a cloud-based customer communications and payments platform for small and mid-sized healthcare businesses. Its software is designed to help practices manage interactions with patients and customers across phone, text messaging, email, and other communication channels from a unified platform.

The company’s products and services include business phone systems, two-way texting, appointment scheduling and reminders, missed-call management, online reviews, payment processing, and analytics.