Weave Communications (NYSE:WEAV) Shares Up 5.4% – Should You Buy?

Weave Communications, Inc. (NYSE:WEAV) shares rose 5.4% during mid-day trading on Tuesday . The company traded as high as $7.09 and last traded at $7.0650. Approximately 260,765 shares changed hands during trading, a decline of 84% from the average daily volume of 1,583,109 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Weave Communications has an average rating of “Hold” and an average price target of $10.00.

Weave Communications Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day simple moving average of $5.64 and a two-hundred day simple moving average of $5.78. The stock has a market cap of $560.57 million, a PE ratio of -22.73 and a beta of 1.68.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $65.50 million for the quarter, compared to analyst estimates of $64.57 million. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. Equities analysts anticipate that Weave Communications, Inc. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Institutional investors have recently added to or reduced their stakes in the company. Gumshoe Capital Management LLC purchased a new position in Weave Communications in the 4th quarter valued at about $22,705,000. Pale Fire Capital SE purchased a new stake in shares of Weave Communications during the first quarter worth about $6,897,000. Disciplined Growth Investors Inc. MN acquired a new position in shares of Weave Communications in the third quarter worth about $8,453,000. ArrowMark Colorado Holdings LLC purchased a new position in Weave Communications in the third quarter valued at about $7,531,000. Finally, Engine Capital Management LP purchased a new position in Weave Communications in the first quarter valued at about $4,858,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Company Profile

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.