Raymond James Issues Pessimistic Forecast for Weave Communications (NYSE:WEAV) Stock Price

Weave Communications (NYSE:WEAV - Free Report) had its target price reduced by Raymond James from $20.00 to $17.00 in a report published on Tuesday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

A number of other equities analysts have also weighed in on WEAV. Piper Sandler lowered their price objective on Weave Communications from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective 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. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weave Communications presently has an average rating of "Buy" and a consensus price target of $15.90.

Weave Communications Price Performance

WEAV traded up $0.09 on Tuesday, hitting $10.77. 551,107 shares of the company's stock were exchanged, compared to its average volume of 720,165. Weave Communications has a fifty-two week low of $8.16 and a fifty-two week high of $17.63. The stock has a market cap of $806.67 million, a price-to-earnings ratio of -27.62 and a beta of 1.97. The firm has a 50-day moving average price of $10.74 and a 200-day moving average price of $13.59. 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 (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The business had revenue of $54.17 million for the quarter, compared to analysts' expectations of $53.23 million. As a group, equities analysts anticipate that Weave Communications will post -0.33 earnings per share for the current year.

Insider Activity

In other news, CEO Brett T. White sold 109,722 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.26, for a total value of $1,235,469.72. Following the sale, the chief executive officer now directly owns 1,790,435 shares of the company's stock, valued at approximately $20,160,298.10. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 5,485 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $17.45, for a total transaction of $95,713.25. Following the transaction, the director now directly owns 188,441 shares of the company's stock, valued at $3,288,295.45. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 449,265 shares of company stock valued at $5,781,607 in the last quarter. Insiders own 18.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WEAV. Aquatic Capital Management LLC acquired a new position in Weave Communications during the 4th quarter worth about $34,000. Summit Investment Advisors Inc. boosted its stake in shares of Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after purchasing an additional 928 shares during the period. Amundi acquired a new position in shares of Weave Communications in the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS purchased a new stake in Weave Communications during the 4th quarter worth approximately $131,000. Finally, US Bancorp DE lifted its holdings in Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after buying an additional 703 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

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.