Weave Communications (NYSE:WEAV) Stock Price Up 8%

Weave Communications, Inc. (NYSE:WEAV) rose 8% on Tuesday . The company traded as high as $9.06 and last traded at $9.00. Approximately 296,489 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 438,694 shares. The stock had previously closed at $8.33.

Wall Street Analyst Weigh In

A number of analysts have commented on WEAV shares. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Weave Communications in a research note on Thursday, February 22nd. Stifel Nicolaus upped their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Raymond James raised shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Weave Communications presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Weave Communications Stock Up 8.2 %

The business’s 50-day moving average price is $11.41 and its 200-day moving average price is $10.84. The firm has a market capitalization of $639.53 million, a PE ratio of -20.67 and a beta of 2.23. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.08.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Weave Communications had a negative return on equity of 31.24% and a negative net margin of 17.06%. The firm had revenue of $47.17 million during the quarter, compared to analyst estimates of $45.89 million. During the same quarter in the prior year, the company posted ($0.12) EPS. As a group, equities research analysts predict that Weave Communications, Inc. will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its holdings in Weave Communications by 16.2% during the first quarter. Sei Investments Co. now owns 60,910 shares of the company’s stock valued at $699,000 after purchasing an additional 8,504 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Weave Communications during the first quarter valued at approximately $156,000. Swiss National Bank grew its holdings in Weave Communications by 14.5% during the first quarter. Swiss National Bank now owns 68,600 shares of the company’s stock valued at $788,000 after purchasing an additional 8,700 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Weave Communications in the first quarter valued at approximately $377,000. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new stake in shares of Weave Communications in the first quarter valued at approximately $137,000. 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.