Weave Communications’ (WEAV) Strong-Buy Rating Reaffirmed at Raymond James

Raymond James restated their strong-buy rating on shares of Weave Communications (NYSE:WEAV) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $20.00 price target on the stock, up from their previous price target of $17.00.

Several other research analysts also recently commented on WEAV. Loop Capital increased their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler increased their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.50.

Weave Communications Trading Down 15.6 %

Shares of Weave Communications stock opened at $14.26 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of -35.64 and a beta of 1.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The company has a fifty day moving average of $16.23 and a 200 day moving average of $13.84. Weave Communications has a fifty-two week low of $8.10 and a fifty-two week high of $17.63.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. The company had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. On average, sell-side analysts anticipate that Weave Communications will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Blake G. Modersitzki sold 10,029 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.12, for a total transaction of $141,609.48. Following the sale, the director now directly owns 281,926 shares in the company, valued at approximately $3,980,795.12. This represents a 3.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alan Taylor sold 44,245 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.98, for a total transaction of $707,035.10. Following the completion of the sale, the chief financial officer now directly owns 301,734 shares in the company, valued at $4,821,709.32. This trade represents a 12.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,190,043 shares of company stock worth $18,442,044. 36.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Weave Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Weave Communications by 37.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,947 shares of the company’s stock worth $1,321,000 after purchasing an additional 22,448 shares during the period. Voloridge Investment Management LLC purchased a new stake in Weave Communications in the 4th quarter worth about $10,186,000. Squarepoint Ops LLC raised its position in Weave Communications by 28.6% in the 4th quarter. Squarepoint Ops LLC now owns 134,047 shares of the company’s stock worth $2,134,000 after purchasing an additional 29,806 shares during the period. Two Sigma Advisers LP raised its position in Weave Communications by 127.9% in the 4th quarter. Two Sigma Advisers LP now owns 596,300 shares of the company’s stock worth $9,493,000 after purchasing an additional 334,700 shares during the period. Finally, Two Sigma Investments LP raised its position in Weave Communications by 113.6% in the 4th quarter. Two Sigma Investments LP now owns 654,428 shares of the company’s stock worth $10,418,000 after purchasing an additional 348,038 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.