Brokerages Set Weave Communications, Inc. (NYSE:WEAV) Price Target at $7.84

Shares of Weave Communications, Inc. (NYSE:WEAV) have received a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.84.

Several brokerages recently commented on WEAV. Piper Sandler downgraded shares of Weave Communications from an “overweight” rating to a “hold” rating and cut their price target for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Wall Street Zen downgraded Weave Communications from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. UBS Group reissued an “accumulate” rating on shares of Weave Communications in a report on Tuesday, August 18th. B. Riley Financial downgraded Weave Communications from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.25 to $7.40 in a research report on Wednesday, August 19th. Finally, Raymond James Financial downgraded Weave Communications from an “outperform” rating to a “market perform” rating in a research report on Monday, August 24th.

Weave Communications Stock Up 0.2%

Shares of NYSE WEAV opened at $7.33 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 12-month low of $4.24 and a 12-month high of $7.97. The firm’s 50-day moving average price is $6.81 and its 200-day moving average price is $5.87. The stock has a market capitalization of $586.80 million, a price-to-earnings ratio of -29.34 and a beta of 1.69.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. On average, equities research analysts anticipate that Weave Communications will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Weave Communications

Several hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its stake in shares of Weave Communications by 26.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,662 shares of the company’s stock worth $196,000 after purchasing an additional 6,768 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Weave Communications during the 2nd quarter worth approximately $54,000. Corient Private Wealth LP purchased a new position in Weave Communications during the second quarter valued at $221,000. Two Sigma Securities LLC purchased a new position in Weave Communications in the 2nd quarter valued at about $62,000. Finally, Bank of America Corp DE purchased a new position in shares of Weave Communications in the second quarter valued at approximately $2,999,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Company Profile

Weave Communications, Inc provides a cloud-based customer communications and payments platform for small and mid-sized healthcare businesses. Its software is designed to help practices manage interactions with patients and customers across phone, text messaging, email, and other communication channels from a unified platform.

The company’s products and services include business phone systems, two-way texting, appointment scheduling and reminders, missed-call management, online reviews, payment processing, and analytics.