Weave Communications, Inc. (NYSE:WEAV) Stock Has Consensus Price Target of $7.84

Weave Communications, Inc. (NYSE:WEAV) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.84.

Several research firms recently issued reports on WEAV. Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a research report on Friday, October 2nd. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price target for the company. in a research report on Wednesday, August 19th. Raymond James Financial lowered Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday, August 24th. B. Riley Financial cut Weave Communications from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.25 to $7.40 in a research report on Wednesday, August 19th. Finally, Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and decreased their price objective for the company from $8.00 to $7.40 in a report on Tuesday, August 18th.

Hedge Funds Weigh In On Weave Communications

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

Weave Communications Stock Performance

Shares of Weave Communications stock opened at $7.38 on Friday. The company has a 50 day moving average price of $6.98 and a 200 day moving average price of $6.14. The firm has a market capitalization of $590.80 million, a P/E ratio of -29.54 and a beta of 1.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 52 week low of $4.24 and a 52 week high of $7.70.

Weave Communications (NYSE:WEAV) last released its earnings results 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 the consensus estimate of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. Sell-side analysts expect that Weave Communications will post -0.22 EPS for the current year.

Weave Communications Company Profile

Weave Communications, Inc provides cloud-based customer communication and payments software designed primarily for small and midsized healthcare practices. Its platform helps businesses manage interactions with patients and customers through a unified system rather than relying on separate phone, messaging, scheduling and payment tools.

Weave’s products and services include business phone systems, two-way texting, email communications, appointment scheduling, automated reminders, online reviews, payment processing and customer relationship management tools.