Weave Communications, Inc. (NYSE:WEAV) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Weave Communications, with one sell, one hold and three buy recommendations. The average 12-month price target is $8.33, compared with the stock’s reported price of $5.47.
• Institutional ownership is high at 86.83%, with several investors establishing or expanding positions, including Arrowstreet Capital, which increased its stake by 897.4% in the first quarter.
• Weave reported quarterly EPS of $0.04, matching estimates, while revenue of $67.54 million fell slightly short of forecasts. The company remains unprofitable, with a negative net margin of 7.97% and analysts expecting full-year EPS of -$0.27.

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) have been given a consensus recommendation of "Hold" by the five ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.3333.

WEAV has been the subject of a number of research reports. Wall Street Zen upgraded shares of Weave Communications from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th.

Institutional Investors Weigh In On Weave Communications

A number of large investors have recently made changes to their positions in WEAV. Y Intercept Hong Kong Ltd bought a new position in Weave Communications in the 1st quarter worth $1,709,000. Engine Capital Management LP bought a new stake in Weave Communications during the first quarter valued at about $4,858,000. Arrowstreet Capital Limited Partnership increased its position in Weave Communications by 897.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 364,240 shares of the company's stock worth $1,683,000 after buying an additional 327,721 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Weave Communications in the first quarter worth about $6,897,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 805,788 shares of the company's stock worth $3,723,000 after buying an additional 121,168 shares during the period. 86.83% of the stock is currently owned by institutional investors.

Weave Communications Price Performance

NYSE WEAV opened at $5.47 on Friday. Weave Communications has a one year low of $4.24 and a one year high of $8.11. The stock has a 50-day moving average of $6.17 and a 200 day moving average of $5.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market capitalization of $438 million, a price-to-earnings ratio of -21.90 and a beta of 1.67.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The firm had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. On average, sell-side analysts forecast that Weave Communications will post -0.27 EPS for the current year.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform's core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.

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