Piper Sandler Issues Positive Forecast for Weave Communications (NYSE:WEAV) Stock Price

Weave Communications (NYSE:WEAV - Get Free Report) had its target price increased by research analysts at Piper Sandler from $14.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 43.68% from the company's previous close.

WEAV has been the topic of a number of other research reports. Raymond James lowered their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus decreased their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications has an average rating of "Buy" and a consensus price target of $16.10.

Weave Communications Stock Performance

Shares of Weave Communications stock traded down $0.03 on Tuesday, reaching $10.44. 858,414 shares of the company were exchanged, compared to its average volume of 727,657. The company's 50-day moving average is $10.53 and its two-hundred day moving average is $13.49. The firm has a market cap of $781.96 million, a price-to-earnings ratio of -26.77 and a beta of 1.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. Weave Communications has a 1-year low of $8.18 and a 1-year high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.12). The business had revenue of $55.81 million for the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, research analysts expect that Weave Communications will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blake G. Modersitzki sold 74,756 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total transaction of $1,307,482.44. Following the transaction, the director now directly owns 179,153 shares of the company's stock, valued at approximately $3,133,385.97. This represents a 29.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett T. White sold 54,051 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $552,941.73. Following the sale, the chief executive officer now directly owns 2,086,384 shares of the company's stock, valued at $21,343,708.32. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,780 shares of company stock valued at $5,685,893. 18.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently added to or reduced their stakes in the stock. CenterBook Partners LP increased its holdings in Weave Communications by 426.5% during the 1st quarter. CenterBook Partners LP now owns 201,587 shares of the company's stock worth $2,236,000 after acquiring an additional 163,298 shares during the period. Gagnon Securities LLC raised its position in Weave Communications by 27.5% in the 1st quarter. Gagnon Securities LLC now owns 41,992 shares of the company's stock worth $466,000 after purchasing an additional 9,052 shares during the period. Vanguard Group Inc. boosted its stake in shares of Weave Communications by 4.3% during the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock valued at $52,471,000 after purchasing an additional 194,936 shares during the period. US Bancorp DE boosted its holdings in shares of Weave Communications by 115.7% during the first quarter. US Bancorp DE now owns 19,526 shares of the company's stock worth $217,000 after purchasing an additional 10,473 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Weave Communications by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 326,069 shares of the company's stock worth $3,616,000 after buying an additional 1,911 shares during the period. Institutional investors own 86.83% of the company's stock.

Weave Communications Company Profile

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.