Weave Communications, Inc. (NYSE:WEAV) Given Consensus Recommendation of “Hold” by Brokerages

Weave Communications, Inc. (NYSE:WEAV) has received an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.84.

WEAV has been the topic of a number of analyst reports. Wall Street Zen raised Weave Communications from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. B. Riley Financial downgraded Weave Communications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.25 to $7.40 in a report on Wednesday. UBS Group reaffirmed an “accumulate” rating on shares of Weave Communications in a research report on Tuesday. Finally, Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price for the company. in a research note on Wednesday.

Weave Communications Price Performance

WEAV opened at $7.30 on Friday. Weave Communications has a twelve month low of $4.24 and a twelve month high of $8.11. The firm has a market cap of $584 million, a price-to-earnings ratio of -29.20 and a beta of 1.67. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $6.30 and a 200 day simple moving average of $5.68.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $67.54 million for the quarter, compared to analyst estimates of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. Equities research analysts expect that Weave Communications will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC acquired a new position in Weave Communications during the 4th quarter worth $26,000. Amundi raised its stake in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after purchasing an additional 1,130 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Weave Communications in the 2nd quarter valued at about $38,000. Optiver Holding B.V. lifted its position in shares of Weave Communications by 1,201.2% during the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock worth $34,000 after purchasing an additional 6,775 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Weave Communications by 119.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after purchasing an additional 4,731 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

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.