B. Riley Financial Initiates Coverage on Weave Communications (NYSE:WEAV)

Key Points

• B. Riley Financial initiated coverage of Weave Communications with a “buy” rating and an $8.25 price target, implying approximately 49.5% upside from the stock’s $5.52 price.
• Analyst sentiment is moderately positive: four analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus target is $8.31.
• Weave reported quarterly EPS of $0.04, in line with estimates, while revenue of $67.54 million fell slightly short of expectations; the company remains unprofitable, with a negative 7.97% net margin.

Equities researchers at B. Riley Financial started coverage on shares of Weave Communications (NYSE:WEAV - Get Free Report) in a research note issued on Tuesday. The brokerage set a "buy" rating and a $8.25 price target on the stock. B. Riley Financial's price target indicates a potential upside of 49.46% from the company's current price.

A number of other equities research analysts also recently issued reports on WEAV. Wall Street Zen raised Weave Communications from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings restated a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.31.

Weave Communications Stock Performance

NYSE:WEAV opened at $5.52 on Tuesday. The company has a market cap of $441.60 million, a P/E ratio of -22.08 and a beta of 1.67. The firm's 50 day moving average is $6.16 and its two-hundred day moving average is $5.66. Weave Communications has a fifty-two week low of $4.24 and a fifty-two week high of $8.11. 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 (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (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%. Analysts expect that Weave Communications will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Weave Communications

Several institutional investors and hedge funds have recently modified their holdings of WEAV. Amundi raised its holdings in shares of Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after buying an additional 1,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Weave Communications by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company's stock valued at $265,000 after acquiring an additional 1,457 shares in the last quarter. Russell Investments Group Ltd. grew its position in Weave Communications by 3.0% in the fourth quarter. Russell Investments Group Ltd. now owns 68,070 shares of the company's stock valued at $517,000 after acquiring an additional 2,009 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Weave Communications by 9.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company's stock valued at $201,000 after purchasing an additional 2,354 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Weave Communications by 0.7% during the fourth quarter. Deutsche Bank AG now owns 353,591 shares of the company's stock valued at $2,684,000 after purchasing an additional 2,366 shares during the period. Hedge funds and other institutional investors own 86.83% of the company's stock.

About Weave Communications

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.

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