Stifel Nicolaus Cuts Weave Communications (NYSE:WEAV) Price Target to $13.00

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 - Get Free Report) had its target price decreased by analysts at Stifel Nicolaus from $16.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 85.32% from the company's previous close.

A number of other brokerages have also commented on WEAV. Raymond James Financial lowered their price target on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a report on Friday. Piper Sandler increased their target price on shares of Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications has an average rating of "Buy" and an average target price of $15.10.

Weave Communications Stock Performance

Shares of NYSE:WEAV traded down $0.29 on Friday, reaching $7.02. 855,909 shares of the company's stock were exchanged, compared to its average volume of 910,552. The business's 50-day moving average is $8.55 and its two-hundred day moving average is $11.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. Weave Communications has a fifty-two week low of $6.75 and a fifty-two week high of $17.63. The firm has a market capitalization of $527.40 million, a price-to-earnings ratio of -17.09 and a beta of 1.76.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results 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). The company had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. As a group, equities research analysts forecast that Weave Communications will post -0.33 EPS for the current year.

Insider Buying and Selling

In other Weave Communications news, 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 completion of the transaction, the chief executive officer directly owned 2,004,136 shares in the company, valued at $17,215,528.24. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Erin Goodsell sold 7,472 shares of Weave Communications stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the completion of the transaction, the insider directly owned 584,657 shares in the company, valued at approximately $5,022,203.63. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,294 shares of company stock worth $739,723 in the last quarter. 18.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weave Communications

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock valued at $611,000 after acquiring an additional 4,594 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Weave Communications during the first quarter valued at approximately $186,000. Driehaus Capital Management LLC grew its position in Weave Communications by 57.9% during the fourth quarter. Driehaus Capital Management LLC now owns 855,502 shares of the company's stock valued at $13,620,000 after purchasing an additional 313,618 shares in the last quarter. Geode Capital Management LLC increased its stake in Weave Communications by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 894,331 shares of the company's stock valued at $14,242,000 after buying an additional 11,124 shares during the period. Finally, Arizona State Retirement System lifted its position in Weave Communications by 20.2% in the 1st quarter. Arizona State Retirement System now owns 12,524 shares of the company's stock worth $139,000 after buying an additional 2,103 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.

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