Weave Communications (NYSE:WEAV) Stock Price Down 4.8% - What's Next?

Key Points

• Weave Communications shares fell 4.8% on Tuesday, trading as low as $6.80 before closing near $6.81, on volume well below its average daily level.
• Analyst sentiment is mixed: Weiss Ratings reiterated a “sell (e+)” call, while the overall consensus from MarketBeat remains Hold with a $10.00 target price.
• The company recently beat quarterly EPS and revenue expectations, but it remains unprofitable and analysts expect a full-year loss of $0.27 per share.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price was down 4.8% on Tuesday . The stock traded as low as $6.80 and last traded at $6.8050. 328,849 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,554,320 shares. The stock had previously closed at $7.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Weave Communications in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Weave Communications currently has an average rating of "Hold" and a consensus target price of $10.00.

Weave Communications Price Performance

The business's 50-day simple moving average is $5.98 and its two-hundred day simple moving average is $5.79. The stock has a market cap of $540.20 million, a price-to-earnings ratio of -21.92 and a beta of 1.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. The company had revenue of $65.50 million during the quarter, compared to the consensus estimate of $64.57 million. Research analysts expect that Weave Communications, Inc. will post -0.27 earnings per share for the current year.

Institutional Trading of Weave Communications

A number of hedge funds have recently made changes to their positions in the company. Amundi increased its holdings in Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company's stock worth $59,000 after purchasing an additional 1,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company's stock worth $265,000 after buying an additional 1,457 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Weave Communications by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 68,070 shares of the company's stock worth $517,000 after buying an additional 2,009 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Weave Communications by 9.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company's stock worth $201,000 after buying an additional 2,354 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Weave Communications by 0.7% in the 4th quarter. Deutsche Bank AG now owns 353,591 shares of the company's stock valued at $2,684,000 after acquiring an additional 2,366 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Company Profile

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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