Stifel Nicolaus Issues Pessimistic Forecast for Weave Communications (NYSE:WEAV) Stock Price

Key Points

• Stifel Nicolaus has lowered its price target for Weave Communications from $16.00 to $13.00 while maintaining a "buy" rating, indicating a potential upside of 85.32% from the company's previous close.
• CEO Brett T. White sold 53,111 shares of Weave Communications stock, indicating a decrease in ownership by 2.58%, as part of recent insider trading activities.
• Weave Communications reported a loss of ($0.11) earnings per share last quarter, missing estimates, but had a revenue of $55.81 million which exceeded analyst expectations.

Weave Communications (NYSE:WEAV - Free Report) had its target price decreased by Stifel Nicolaus from $16.00 to $13.00 in a research note published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts also recently commented on WEAV. Raymond James Financial decreased their target price on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research report on Friday. Piper Sandler increased their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $15.10.

Weave Communications Stock Up 0.2%

Shares of WEAV traded up $0.01 during midday trading on Friday, hitting $7.17. The company had a trading volume of 274,204 shares, compared to its average volume of 918,745. The company's 50-day simple moving average is $8.45 and its 200-day simple moving average is $10.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $539.34 million, a P/E ratio of -17.92 and a beta of 1.74. Weave Communications has a 1 year low of $6.75 and a 1 year high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly 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 firm had revenue of $55.81 million for the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 42.20% and a negative net margin of 13.64%. As a group, sell-side analysts expect that Weave Communications will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other Weave Communications news, insider Erin Goodsell sold 7,472 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the transaction, the insider directly owned 584,657 shares in the company, valued at $5,022,203.63. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett T. White sold 53,111 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.59, for a total value of $456,223.49. Following the transaction, the chief executive officer owned 2,004,136 shares in the company, valued at approximately $17,215,528.24. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,294 shares of company stock worth $739,723. 18.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors have recently made changes to their positions in WEAV. Wasatch Advisors LP increased its stake in Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after acquiring an additional 1,444,828 shares during the period. Vanguard Group Inc. boosted its holdings in 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 in the last quarter. Voya Investment Management LLC boosted its holdings in Weave Communications by 26.2% during the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company's stock valued at $15,382,000 after purchasing an additional 287,785 shares in the last quarter. AXA S.A. boosted its holdings in Weave Communications by 0.7% during the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company's stock valued at $20,605,000 after purchasing an additional 9,365 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Weave Communications by 26.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,100,179 shares of the company's stock worth $17,515,000 after acquiring an additional 226,768 shares in the last quarter. 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.