Weave Communications (NYSE:WEAV) Price Target Raised to $15.00

Weave Communications (NYSE:WEAV - Get Free Report) had its price target upped by analysts at Piper Sandler from $14.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 42.72% from the company's previous close.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Raymond James reduced their price objective on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $16.10.

Weave Communications Price Performance

NYSE WEAV traded up $0.04 during trading hours on Tuesday, reaching $10.51. 208,143 shares of the company's stock were exchanged, compared to its average volume of 723,722. The firm has a fifty day moving average of $10.56 and a 200-day moving average of $13.50. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications has a one year low of $8.18 and a one year high of $17.63. The stock has a market cap of $787.20 million, a PE ratio of -26.95 and a beta of 1.97.

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

Insider Activity

In other Weave Communications news, COO Marcus Bertilson sold 27,599 shares of Weave Communications stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total value of $312,696.67. Following the completion of the sale, the chief operating officer now owns 248,502 shares in the company, valued at $2,815,527.66. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Joseph David Mcneil sold 51,638 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $576,280.08. Following the sale, the executive now owns 298,362 shares of the company's stock, valued at approximately $3,329,719.92. This represents a 14.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 443,780 shares of company stock valued at $5,685,893. Company insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On Weave Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aquatic Capital Management LLC bought a new position in shares of Weave Communications during the 4th quarter valued at approximately $34,000. a16z Perennial Management L.P. acquired a new stake in shares of Weave Communications during the first quarter worth about $36,000. Summit Investment Advisors Inc. raised its stake in shares of Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after buying an additional 928 shares in the last quarter. Amundi purchased a new stake in Weave Communications during the fourth quarter worth $66,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications during the fourth quarter worth $131,000. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

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.