Weave Communications (NYSE:WEAV) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Weave Communications (NYSE:WEAVGet Rating) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Weave Communications Inc. provides all-in-one customer communications and engagement software platform for small and medium-sized businesses. Weave Communications Inc. is based in LEHI, Utah. “

A number of other research analysts have also recently issued reports on the stock. Guggenheim decreased their price objective on shares of Weave Communications from $22.00 to $11.00 and set a buy rating on the stock in a research note on Thursday, March 3rd. Stifel Nicolaus decreased their price objective on shares of Weave Communications from $14.00 to $12.00 and set a buy rating on the stock in a research note on Monday, March 21st. Piper Sandler cut shares of Weave Communications from an overweight rating to a neutral rating and decreased their price objective for the company from $20.00 to $9.00 in a research note on Thursday, March 3rd. The Goldman Sachs Group cut their target price on shares of Weave Communications from $13.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday, April 14th. Finally, Raymond James lowered shares of Weave Communications from an outperform rating to a market perform rating in a research report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $16.22.

Shares of WEAV stock opened at $4.92 on Wednesday. The stock’s 50 day moving average is $5.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.84 and a quick ratio of 2.84. Weave Communications has a 12-month low of $4.08 and a 12-month high of $22.40.

Weave Communications (NYSE:WEAVGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. On average, sell-side analysts anticipate that Weave Communications will post -0.86 EPS for the current fiscal year.

In other news, Director Blake G. Modersitzki bought 37,000 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average price of $6.47 per share, for a total transaction of $239,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tiger Global Management Llc sold 62,840 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $4.38, for a total transaction of $275,239.20. Following the completion of the transaction, the insider now owns 7,058,656 shares in the company, valued at approximately $30,916,913.28. The disclosure for this sale can be found here. 42.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new stake in Weave Communications in the fourth quarter valued at $45,000. Northern Trust Corp bought a new stake in Weave Communications in the fourth quarter valued at $490,000. Lead Edge Capital Management LLC bought a new stake in Weave Communications in the fourth quarter valued at $53,140,000. Deer Management Co. LLC bought a new stake in shares of Weave Communications during the fourth quarter worth about $114,862,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Weave Communications during the fourth quarter worth about $8,418,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

About Weave Communications (Get Rating)

Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.

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