Weave Communications (NYSE:WEAV) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Weave Communications to “Buy” from “Hold,” though analyst sentiment remains mixed: three analysts rate it Buy, one Hold and one Sell. The consensus rating is still “Hold,” with an $8.33 price target.
• Weave reported quarterly adjusted earnings of $0.04 per share, in line with estimates, while revenue of $67.54 million came slightly below the $67.88 million consensus. Analysts expect a full-year loss of $0.27 per share.
• The stock opened at $5.47, with a market capitalization of about $438 million, and institutional investors own 86.83% of shares. The company remains unprofitable, with a negative net margin of 7.97% and negative return on equity of 21.14%.

Weave Communications (NYSE:WEAV - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Weave Communications in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.33.

Weave Communications Stock Up 2.9%

NYSE:WEAV opened at $5.47 on Friday. Weave Communications has a 1-year low of $4.24 and a 1-year high of $8.11. The company has a 50-day moving average of $6.17 and a 200 day moving average of $5.68. The firm has a market cap of $438 million, a PE ratio of -21.90 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.24.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.04 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 business had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. As a group, research analysts anticipate that Weave Communications will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. Meros Investment Management LP bought a new position in Weave Communications in the second quarter worth about $3,323,468,000. Canada Pension Plan Investment Board purchased a new stake in shares of Weave Communications during the second quarter valued at about $125,000. Legal & General Group Plc bought a new stake in shares of Weave Communications in the 2nd quarter valued at about $38,000. The Manufacturers Life Insurance Company bought a new stake in shares of Weave Communications in the 2nd quarter valued at about $111,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Weave Communications in the 2nd quarter worth approximately $70,000. Institutional investors own 86.83% of the company's stock.

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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