Weave Communications (NYSE:WEAV) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Weave Communications (NYSE:WEAV) issued its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08), Zacks reports. Weave Communications had a negative return on equity of 31.93% and a negative net margin of 18.20%. The company had revenue of $47.17 million during the quarter, compared to analysts’ expectations of $45.89 million. During the same quarter in the prior year, the business posted ($0.12) EPS. Weave Communications updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Weave Communications Stock Down 18.2 %

Shares of NYSE WEAV traded down $1.99 during midday trading on Thursday, reaching $8.94. 1,551,954 shares of the company’s stock traded hands, compared to its average volume of 414,848. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $11.59 and its 200-day simple moving average is $10.79. Weave Communications has a one year low of $4.04 and a one year high of $13.80. The company has a market cap of $634.56 million, a price-to-earnings ratio of -20.22 and a beta of 2.23.

Wall Street Analyst Weigh In

WEAV has been the topic of several recent research reports. Raymond James upgraded shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus increased 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, February 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.00.

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.