Weave Communications, Inc. (NYSE:WEAV) Stock Rated "Hold" by Sell-Side 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.
• WEAV shares opened at $7.42, near the analyst target, with a 52-week range of $4.24 to $7.70. Recent analyst actions included downgrades from Wall Street Zen, B. Riley and Piper Sandler.
• The company met quarterly EPS estimates at $0.04 but reported revenue of $67.54 million, slightly below expectations. Institutional investors own 86.83% of the stock, with BlackRock recently establishing a major position.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given 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.

WEAV has been the subject of several research analyst reports. Wall Street Zen cut Weave Communications from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. B. Riley Financial lowered Weave Communications from a "buy" rating to a "hold" rating and dropped their target price for the company from $8.25 to $7.40 in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Weave Communications from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 20th. Piper Sandler downgraded shares of Weave Communications from an "overweight" rating to a "hold" rating and cut their price target for the stock from $8.00 to $7.40 in a report on Tuesday, August 18th. Finally, UBS Group reissued an "accumulate" rating on shares of Weave Communications in a research report on Tuesday, August 18th.

Weave Communications Price Performance

Shares of WEAV opened at $7.42 on Thursday. The firm has a market capitalization of $593.51 million, a PE ratio of -29.68 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. Weave Communications has a 1-year low of $4.24 and a 1-year high of $7.70. The company's fifty day moving average price is $7.35 and its 200-day moving average price is $6.16.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. The company had revenue of $67.54 million during the quarter, compared to analyst estimates of $67.88 million. On average, equities research analysts predict that Weave Communications will post -0.22 EPS for the current year.

Institutional Trading of Weave Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Weave Communications during the second quarter valued at $31,807,000. Pale Fire Capital SE acquired a new stake in Weave Communications during the 1st quarter worth about $6,897,000. Engine Capital Management LP acquired a new stake in Weave Communications during the 1st quarter worth about $4,858,000. Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 17.7% during the 1st quarter. Bank of New York Mellon Corp now owns 805,788 shares of the company's stock valued at $3,723,000 after buying an additional 121,168 shares during the last quarter. Finally, Harber Asset Management LLC purchased a new position in shares of Weave Communications during the 2nd quarter valued at about $4,706,000. Institutional investors and hedge funds own 86.83% of the company's stock.

About Weave Communications

Weave Communications, Inc provides an all-in-one customer communication and engagement platform for small and midsize businesses. Its software is designed to help businesses manage interactions with customers, streamline operations, and improve retention through a unified system.

The company's platform combines business phone services, two-way texting, email, website chat, appointment scheduling, automated reminders, online payments, review management, and customer relationship management tools.

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