Weave Communications (NYSE:WEAV) Trading 5.6% Higher - What's Next?

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) traded up 5.6% on Thursday . The stock traded as high as $8.41 and last traded at $8.43. 81,852 shares changed hands during trading, a decline of 90% from the average session volume of 801,892 shares. The stock had previously closed at $7.98.

Analyst Upgrades and Downgrades

WEAV has been the subject of several research reports. Stifel Nicolaus dropped their price target on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler boosted their price target on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Raymond James Financial dropped their price target on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $16.10.

Weave Communications Trading Up 9.6%

The company has a 50 day moving average of $9.54 and a 200-day moving average of $12.14. 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 stock has a market cap of $657.45 million, a price-to-earnings ratio of -21.33 and a beta of 1.76.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 14.07% and a negative return on equity of 31.08%. On average, research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other Weave Communications news, 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 value of $64,184.48. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Joseph David Mcneil sold 14,302 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive directly owned 409,060 shares of the company's stock, valued at $3,489,281.80. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,577 shares of company stock worth $1,499,638. 18.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after purchasing an additional 1,444,828 shares during the period. Vanguard Group Inc. increased its stake in Weave Communications by 4.3% during the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock worth $52,471,000 after acquiring an additional 194,936 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Weave Communications by 202.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock worth $26,280,000 after acquiring an additional 1,105,728 shares during the last quarter. Voya Investment Management LLC increased its stake 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 worth $15,382,000 after acquiring an additional 287,785 shares during the last quarter. Finally, AXA S.A. increased its stake in Weave Communications by 0.7% during the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company's stock worth $20,605,000 after acquiring an additional 9,365 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

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.