Weave Communications (NYSE:WEAV) Reaches New 52-Week Low - What's Next?

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $8.50 and last traded at $8.53, with a volume of 659890 shares traded. The stock had previously closed at $9.09.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WEAV shares. Raymond James reduced their target price on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus cut their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler lifted their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $16.10.

Weave Communications Stock Performance

The stock has a market cap of $641.60 million, a P/E ratio of -21.88 and a beta of 1.86. The stock has a fifty day simple moving average of $9.92 and a 200-day simple moving average of $12.84. The company has a quick ratio of 1.59, a current 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 results on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. Equities analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Weave Communications

In related news, CRO Joseph David Mcneil sold 51,638 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $576,280.08. Following the completion of the sale, the executive now directly owns 298,362 shares of the company's stock, valued at approximately $3,329,719.92. This represents a 14.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 owns 1,790,435 shares in the company, valued at $20,160,298.10. This trade represents a 5.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,014 shares of company stock valued at $3,522,274 over the last three months. 18.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WEAV. Wasatch Advisors LP lifted its position in Weave Communications by 38.4% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Weave Communications by 202.9% in the 4th 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. Raymond James Financial Inc. bought a new stake in shares of Weave Communications in the fourth quarter valued at about $14,984,000. Voya Investment Management LLC lifted its holdings in shares of Weave Communications by 509.2% in the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock valued at $17,500,000 after purchasing an additional 918,804 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 buying an additional 863,547 shares during the period. Institutional investors and hedge funds own 86.83% of the company's stock.

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.