Weave Communications (NYSE:WEAV) Shares Gap Up – What’s Next?

Weave Communications, Inc. (NYSE:WEAV)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.53, but opened at $7.29. Weave Communications shares last traded at $7.2950, with a volume of 15,869,601 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WEAV. Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a report on Saturday. B. Riley Financial started coverage on Weave Communications in a research note on Tuesday. They set a “buy” rating and a $8.25 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Weave Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.31.

Weave Communications Price Performance

The stock has a market cap of $582.80 million, a price-to-earnings ratio of -29.14 and a beta of 1.67. The company’s 50 day moving average is $6.16 and its 200 day moving average is $5.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The company had revenue of $67.54 million for the quarter, compared to analyst estimates of $67.88 million. Research analysts forecast that Weave Communications, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds have recently added to or reduced their stakes in WEAV. Hilton Head Capital Partners LLC purchased a new stake in Weave Communications in the 4th quarter valued at approximately $26,000. Optiver Holding B.V. lifted its holdings in shares of Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock worth $34,000 after acquiring an additional 6,775 shares during the period. Legal & General Group Plc acquired a new position in shares of Weave Communications in the 2nd quarter valued at $38,000. Amundi raised its position in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after buying an additional 1,130 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Weave Communications in the second quarter valued at $60,000. 86.83% of the stock is currently owned by hedge funds and other 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.