Analysts Set Weave Communications, Inc. (NYSE:WEAV) Price Target at $14.00

Shares of Weave Communications, Inc. (NYSE:WEAV) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.00.

A number of brokerages recently issued reports on WEAV. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a research note on Thursday, February 22nd. Stifel Nicolaus increased their target price on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Raymond James raised shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research report on Monday, February 26th.

Weave Communications Price Performance

Weave Communications stock opened at $11.58 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $821.95 million, a price-to-earnings ratio of -25.73 and a beta of 2.24. The company’s 50 day simple moving average is $12.05 and its 200-day simple moving average is $10.51. Weave Communications has a 1 year low of $4.04 and a 1 year high of $13.80.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $45.69 million during the quarter, compared to analysts’ expectations of $44.24 million. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. As a group, equities research analysts expect that Weave Communications will post -0.37 earnings per share for the current year.

Insider Activity at Weave Communications

In other Weave Communications news, CFO Alan Taylor sold 15,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $12.00, for a total transaction of $180,000.00. Following the transaction, the chief financial officer now owns 480,813 shares in the company, valued at $5,769,756. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 41.00% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Weave Communications by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,030,289 shares of the company’s stock worth $34,757,000 after buying an additional 87,496 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Weave Communications by 27.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,661 shares of the company’s stock valued at $1,223,000 after buying an additional 22,825 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Weave Communications by 162.0% in the 4th quarter. GSA Capital Partners LLP now owns 74,732 shares of the company’s stock valued at $857,000 after purchasing an additional 46,213 shares during the period. Barclays PLC increased its stake in shares of Weave Communications by 235.7% in the fourth quarter. Barclays PLC now owns 63,460 shares of the company’s stock worth $728,000 after acquiring an additional 44,558 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in Weave Communications by 13.0% in the 4th quarter. Voya Investment Management LLC now owns 30,165 shares of the company’s stock worth $346,000 after purchasing an additional 3,463 shares during the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

About Weave Communications

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.