Weave Communications, Inc. (NYSE:WEAV) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Weave Communications, with five holds, two buys and one sell among eight covering analysts. The average 12-month price target is $7.84.
• Several firms recently downgraded the stock and lowered their price targets to approximately $7.40, including B. Riley, Piper Sandler and Loop Capital.
• Weave reported quarterly EPS of $0.04, in line with expectations, while revenue of $67.54 million fell slightly short of estimates. The company remains unprofitable, with a negative net margin and analysts forecasting a full-year loss.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) has earned a consensus rating of "Hold" from the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.84.

Several research analysts recently commented on WEAV shares. B. Riley Financial cut Weave Communications from a "buy" rating to a "hold" rating and cut their price target for the stock from $8.25 to $7.40 in a research note on Wednesday, August 19th. Piper Sandler lowered Weave Communications from an "overweight" rating to a "hold" rating and cut their target price for the company from $8.00 to $7.40 in a research report on Tuesday, August 18th. Loop Capital cut 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. Weiss Ratings restated a "sell (e+)" rating on shares of Weave Communications in a research note on Wednesday, July 8th. Finally, Raymond James Financial downgraded shares of Weave Communications from an "outperform" rating to a "market perform" rating in a research note on Monday, August 24th.

Weave Communications Stock Performance

Weave Communications stock opened at $7.38 on Friday. Weave Communications has a 12-month low of $4.24 and a 12-month high of $7.70. The company has a market capitalization of $590 million, a price-to-earnings ratio of -29.50 and a beta of 1.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25. The firm's fifty day moving average price is $6.93 and its 200 day moving average price is $6.06.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. The firm had revenue of $67.54 million for the quarter, compared to analyst estimates 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, research analysts forecast that Weave Communications will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds have recently bought and sold shares of WEAV. Hilton Head Capital Partners LLC bought a new position in shares of Weave Communications in the fourth quarter worth $26,000. PNC Financial Services Group Inc. raised its stake in shares of Weave Communications by 24.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 20,423 shares of the company's stock valued at $155,000 after purchasing an additional 4,064 shares in the last quarter. Legal & General Group Plc acquired a new stake in Weave Communications in the second quarter worth about $38,000. Sequoia Financial Advisors LLC lifted its holdings in Weave Communications by 26.1% in the second quarter. Sequoia Financial Advisors LLC now owns 32,662 shares of the company's stock worth $196,000 after purchasing an additional 6,768 shares during the period. Finally, Optiver Holding B.V. lifted its holdings in Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company's stock worth $34,000 after purchasing an additional 6,775 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Company Profile

Weave Communications, Inc provides cloud-based customer communication and payments software designed primarily for small and midsized healthcare practices. Its platform helps businesses manage interactions with patients and customers through a unified system rather than relying on separate phone, messaging, scheduling and payment tools.

Weave's products and services include business phone systems, two-way texting, email communications, appointment scheduling, automated reminders, online reviews, payment processing and customer relationship management tools.

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