Weave Communications (NYSE:WEAV) Price Target Lowered to $17.00 at Raymond James

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

WEAV has been the subject of several other reports. Piper Sandler decreased their price objective on shares of Weave Communications from $17.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Weave Communications currently has an average rating of "Buy" and a consensus target price of $15.90.

Weave Communications Stock Up 0.8 %

Shares of NYSE WEAV traded up $0.09 during trading hours on Tuesday, hitting $10.77. 551,107 shares of the stock were exchanged, compared to its average volume of 724,242. Weave Communications has a 12 month low of $8.10 and a 12 month high of $17.63. The firm has a fifty day moving average price of $10.74 and a 200-day moving average price of $13.59. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market cap of $806.67 million, a PE ratio of -27.62 and a beta of 1.97.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 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 $54.17 million for the quarter, compared to analyst estimates of $53.23 million. On average, sell-side analysts expect that Weave Communications will post -0.33 EPS for the current year.

Insider Activity

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

Institutional Trading of Weave Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in shares of Weave Communications by 38.4% during the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock worth $82,874,000 after acquiring an additional 1,444,828 shares in the last quarter. Vanguard Group Inc. boosted its position in Weave Communications by 23.5% during the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after purchasing an additional 863,547 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock valued at $26,280,000 after purchasing an additional 1,105,728 shares during the period. Pathway Capital Management LP increased its position in shares of Weave Communications by 136.3% in the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company's stock valued at $21,482,000 after buying an additional 778,413 shares in the last quarter. Finally, AXA S.A. raised its stake in shares of Weave Communications by 0.7% during the 4th quarter. AXA S.A. now owns 1,294,281 shares of the company's stock worth $20,605,000 after buying an additional 9,365 shares during the period. Institutional investors and hedge funds 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.