Weave Communications (NYSE:WEAV) Shares Down 3.3%

Weave Communications, Inc. (NYSE:WEAV) traded down 3.3% during trading on Tuesday . The company traded as low as $11.08 and last traded at $11.08. 79,518 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 460,007 shares. The stock had previously closed at $11.46.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a report on Thursday, February 22nd. Stifel Nicolaus raised their price target on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Raymond James raised Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weave Communications currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Weave Communications Trading Up 2.9 %

The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $810.04 million, a price-to-earnings ratio of -25.51 and a beta of 2.29. The business has a 50 day simple moving average of $12.22 and a 200-day simple moving average of $10.24.

Weave Communications (NYSE:WEAV) last released its earnings results on Wednesday, February 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. The firm had revenue of $45.69 million during the quarter, compared to the consensus estimate of $44.24 million. On average, equities analysts predict that Weave Communications, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alan Taylor sold 15,000 shares of Weave Communications stock in a transaction on Wednesday, January 24th. The shares were 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 approximately $5,769,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.00% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Weave Communications by 90.8% in the first quarter. Tower Research Capital LLC TRC now owns 6,800 shares of the company’s stock valued at $34,000 after acquiring an additional 3,236 shares in the last quarter. State of Wyoming bought a new position in shares of Weave Communications during the second quarter worth about $39,000. Barclays PLC grew its stake in Weave Communications by 443.1% in the fourth quarter. Barclays PLC now owns 8,488 shares of the company’s stock worth $39,000 after purchasing an additional 6,925 shares in the last quarter. Citigroup Inc. increased its holdings in Weave Communications by 236.3% in the first quarter. Citigroup Inc. now owns 7,325 shares of the company’s stock valued at $44,000 after buying an additional 5,147 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new stake in Weave Communications during the second quarter valued at approximately $46,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Company Profile

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.