NYSE:WEAV - Get Free Report ) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $10.93, but opened at $9.89. Weave Communications shares last traded at $9.48, with a volume of 402,090 shares.
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The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The business had revenue of $47.17 million for the quarter, compared to analysts' expectations of $45.89 million. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. During the same period last year, the business earned ($0.12) earnings per share.
Analyst Ratings Changes WEAV has been the topic of several recent analyst reports. Piper Sandler reissued an "overweight" rating and set a $15.00 target price on shares of Weave Communications in a research note on Thursday, February 22nd. Raymond James upgraded Weave Communications from an "outperform" rating to a "strong-buy" rating and set a $15.00 price objective for the company in a report on Monday, February 26th. Finally, Stifel Nicolaus upped their target price on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.
View Our Latest Report on Weave Communications
Institutional Investors Weigh In On Weave Communications Several institutional investors and hedge funds have recently modified their holdings of WEAV. Principal Financial Group Inc. acquired a new position in Weave Communications during the 1st quarter worth $377,000. Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of Weave Communications during the 1st quarter worth about $137,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Weave Communications during the 1st quarter worth about $138,000. Wasatch Advisors LP boosted its position in shares of Weave Communications by 17.9% during the 4th quarter. Wasatch Advisors LP now owns 2,172,373 shares of the company's stock worth $24,917,000 after acquiring an additional 330,422 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Weave Communications by 153.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the company's stock worth $46,000 after acquiring an additional 2,427 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company's stock.
Weave Communications Trading Down 20.9 % The company has a 50-day moving average price of $11.59 and a 200-day moving average price of $10.79. The firm has a market capitalization of $613.98 million, a price-to-earnings ratio of -20.22 and a beta of 2.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 1.78.
About Weave Communications (
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Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.
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