Weave Communications, Inc. (NYSE:WEAV) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Weave Communications has a consensus “Hold” rating from eight analysts: five holds, two buys and one sell. The average 12-month price target is $7.84, close to the stock’s reported opening price of $7.32.
• Several firms recently downgraded the stock to “Hold” and reduced their price targets to approximately $7.40, including B. Riley, Loop Capital and Piper Sandler.
• Weave’s latest quarterly results met EPS expectations at $0.04 but slightly missed revenue estimates, reporting $67.54 million versus $67.88 million expected. The company remains unprofitable, with a negative net margin of 7.97%.

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) have received an average rating of "Hold" from the eight analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.84.

A number of research firms have commented on WEAV. B. Riley Financial lowered Weave Communications from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $8.25 to $7.40 in a research note on Wednesday, August 19th. Loop Capital lowered Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 target price for the company. in a research note on Wednesday, August 19th. Piper Sandler cut Weave Communications from an "overweight" rating to a "hold" rating and cut their price target for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Weave Communications from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Finally, UBS Group reissued an "accumulate" rating on shares of Weave Communications in a report on Tuesday, August 18th.

Hedge Funds Weigh In On Weave Communications

A number of large investors have recently modified their holdings of WEAV. Hilton Head Capital Partners LLC acquired a new stake in shares of Weave Communications in the fourth quarter valued at approximately $26,000. Amundi lifted its holdings 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 buying an additional 1,130 shares in the last quarter. California State Teachers Retirement System boosted its position in Weave Communications by 51.0% in the 2nd quarter. California State Teachers Retirement System now owns 5,397 shares of the company's stock valued at $32,000 after buying an additional 1,822 shares during the last quarter. Legal & General Group Plc bought a new position in Weave Communications in the 2nd quarter valued at $38,000. Finally, Optiver Holding B.V. increased its stake in shares of Weave Communications by 1,201.2% in the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company's stock valued at $34,000 after buying an additional 6,775 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Price Performance

Shares of Weave Communications stock opened at $7.32 on Wednesday. The stock has a market capitalization of $585.19 million, a price-to-earnings ratio of -29.26 and a beta of 1.69. The firm's 50-day moving average price is $6.74 and its two-hundred day moving average price is $5.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 1-year low of $4.24 and a 1-year high of $8.00.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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, equities analysts predict that Weave Communications will post -0.22 earnings per share for the current fiscal year.

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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