Weave Communications (NYSE:WEAV) Hits New 52-Week High – Time to Buy?

Weave Communications, Inc. (NYSE:WEAV) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.61 and last traded at $16.45, with a volume of 170808 shares. The stock had previously closed at $16.44.

Analysts Set New Price Targets

A number of research firms recently issued reports on WEAV. The Goldman Sachs Group boosted their price objective on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Loop Capital upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.50.

Weave Communications Stock Down 0.3 %

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -40.87 and a beta of 1.92. The stock has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $13.13. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last announced its earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter. Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. The company had revenue of $52.39 million during the quarter, compared to the consensus estimate of $51.47 million. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, analysts predict that Weave Communications, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other Weave Communications news, CFO Alan Taylor sold 44,245 shares of Weave Communications stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.98, for a total value of $707,035.10. Following the transaction, the chief financial officer now owns 301,734 shares in the company, valued at approximately $4,821,709.32. The trade was a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Branden Neish sold 7,111 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.95, for a total value of $113,420.45. Following the completion of the transaction, the insider now directly owns 512,122 shares in the company, valued at $8,168,345.90. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,252,643 shares of company stock worth $18,903,105 over the last three months. Corporate insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Weave Communications by 3.8% in the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after purchasing an additional 2,516 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Weave Communications by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after buying an additional 3,315 shares during the period. Algert Global LLC grew its holdings in shares of Weave Communications by 2.6% during the second quarter. Algert Global LLC now owns 181,768 shares of the company’s stock valued at $1,640,000 after buying an additional 4,659 shares in the last quarter. Point72 Asset Management L.P. raised its position in Weave Communications by 5.4% during the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after buying an additional 896 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Weave Communications in the 3rd quarter worth about $193,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

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.