Weave Communications, Inc. (NYSE:WEAV) Receives Consensus Rating of “Hold” from Analysts

Shares of Weave Communications, Inc. (NYSE:WEAV) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.84.

A number of research firms have recently commented on WEAV. B. Riley Financial reissued a “neutral” rating and issued a $7.40 price target (down from $8.25) on shares of Weave Communications in a research report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Weave Communications from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Piper Sandler lowered shares of Weave Communications from an “overweight” rating to a “hold” rating and cut their target price for the stock from $8.00 to $7.40 in a research report on Tuesday. Finally, Loop Capital restated a “hold” rating and set a $7.40 price target on shares of Weave Communications in a report on Wednesday.

Hedge Funds Weigh In On Weave Communications

Large investors have recently made changes to their positions in the business. Amundi grew its holdings in Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Weave Communications by 6.5% during the first 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 during the last quarter. Creative Planning acquired a new position in shares of Weave Communications during the second quarter worth approximately $143,000. JPMorgan Chase & Co. lifted its holdings in shares of Weave Communications by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 292,452 shares of the company’s stock worth $2,433,000 after buying an additional 7,651 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Weave Communications by 83.9% in the second quarter. Legal & General Group Plc now owns 65,657 shares of the company’s stock valued at $546,000 after acquiring an additional 29,958 shares during the period. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Stock Performance

WEAV opened at $7.30 on Friday. The company has a market cap of $584.40 million, a PE ratio of -29.22 and a beta of 1.67. The stock has a 50-day moving average of $6.23 and a 200-day moving average of $5.67. Weave Communications has a 52-week low of $4.24 and a 52-week high of $8.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data 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 return on equity of 21.14% and a negative net margin of 7.97%.The business had revenue of $67.54 million for the quarter, compared to analyst estimates of $67.88 million. As a group, equities research analysts forecast that Weave Communications will post -0.27 earnings per share for the current fiscal year.

Weave Communications News Summary

Here are the key news stories impacting Weave Communications this week:

• Positive Sentiment: Francisco Partners will acquire Weave for $7.40 per share in cash, offering shareholders substantial price certainty and prompting the stock to trade close to the proposed transaction value. Weave Communications Enters $650 Million Take-Private Deal
• Positive Sentiment: The announced take-private transaction could deliver a cash exit for shareholders, while the strategic buyer may provide resources to support Weave’s growth outside the public markets. Healthcare software firm Weave Communications to go private after being acquired by Francisco Partners

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.