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

Shares of Weave Communications, Inc. (NYSE:WEAV) have received a consensus rating of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.80.

Several equities research analysts have issued reports on the company. Raymond James Financial cut Weave Communications from an “outperform” rating to a “market perform” rating in a research note on Monday, August 24th. Loop Capital downgraded shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a research note on Wednesday, August 19th. UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th. Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and lowered their price objective for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Finally, B. Riley Financial cut Weave Communications from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.25 to $7.40 in a research report on Wednesday, August 19th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WEAV. ProShare Advisors LLC bought a new stake in shares of Weave Communications during the third quarter valued at approximately $429,000. Vise Technologies Inc. acquired a new position in shares of Weave Communications in the 3rd quarter worth approximately $379,000. Transmarket Holdings LP bought a new position in shares of Weave Communications in the third quarter valued at $1,486,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Weave Communications by 26.1% during the second quarter. Sequoia Financial Advisors LLC now owns 32,662 shares of the company’s stock valued at $196,000 after purchasing an additional 6,768 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Weave Communications in the second quarter worth about $54,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Up 0.3%

Shares of WEAV stock opened at $7.42 on Thursday. Weave Communications has a fifty-two week low of $4.24 and a fifty-two week high of $7.70. The stock’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $6.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $593.51 million, a PE ratio of -29.68 and a beta of 1.68.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. The company had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. Equities analysts expect that Weave Communications will post -0.22 earnings per share for the current year.

Weave Communications Company Profile

Weave Communications, Inc provides an all-in-one customer communication and engagement platform for small and midsize businesses. Its software is designed to help businesses manage interactions with customers, streamline operations, and improve retention through a unified system.

The company’s platform combines business phone services, two-way texting, email, website chat, appointment scheduling, automated reminders, online payments, review management, and customer relationship management tools.