Weave Communications (NYSE:WEAV) Sees Strong Trading Volume – Here’s Why

Shares of Weave Communications, Inc. (NYSE:WEAV) saw unusually-high trading volume on Wednesday . 1,643,688 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 1,822,035 shares.The stock last traded at $7.3050 and had previously closed at $7.28.

More Weave Communications News

Here are the key news stories impacting Weave Communications this week:

• Positive Sentiment: Francisco Partners has agreed to acquire Weave Communications in a transaction valued at approximately $650 million. The take-private deal offers investors a defined potential exit value and reduces uncertainty around the company’s standalone growth and profitability outlook. Weave Communications to be acquired by Francisco Partners for $650M
• Neutral Sentiment: Recent analyst activity has become less relevant to the stock’s long-term valuation because of the pending acquisition. Loop Capital and B. Riley Financial downgraded Weave to “hold,” while Piper Sandler also lowered its rating; B. Riley reportedly set a $7.40 price target. These actions suggest limited upside outside the transaction terms. Weave Communications Stock Rating Lowered by Piper Sandler
• Negative Sentiment: Shareholder law firms Ademi LLP and Halper Sadeh LLC are investigating whether Weave’s board obtained a fair price and whether insiders could receive benefits unavailable to ordinary shareholders. Such investigations may create legal and closing uncertainty, although they do not by themselves indicate that the transaction will fail. Shareholder Alert: Ademi LLP investigates whether Weave Communications is obtaining a fair price

Wall Street Analyst Weigh In

WEAV has been the subject of a number of analyst reports. UBS Group reaffirmed an “accumulate” rating on shares of Weave Communications in a report on Tuesday. Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. 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 report on Wednesday. B. Riley Financial downgraded Weave Communications from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.25 to $7.40 in a research report on Wednesday. Finally, Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and decreased their price target for the company from $8.00 to $7.40 in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Weave Communications presently has a consensus rating of “Hold” and an average price target of $7.84.

Weave Communications Stock Performance

The company has a market cap of $584.80 million, a price-to-earnings ratio of -29.24 and a beta of 1.67. The company’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $5.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Research analysts expect that Weave Communications, Inc. will post -0.22 earnings per share for the current year.

Institutional Trading of Weave Communications

Large investors have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new stake in shares of Weave Communications in the second quarter valued at $62,000. Corient Private Wealth LP acquired a new position in Weave Communications during the 2nd quarter worth about $120,000. Bank of America Corp DE bought a new stake in Weave Communications during the 2nd quarter worth about $2,999,000. Man Group plc bought a new stake in Weave Communications during the 2nd quarter worth about $1,348,000. Finally, Meros Investment Management LP acquired a new stake in Weave Communications in the 2nd quarter valued at about $3,323,468,000. Institutional investors own 86.83% of the company’s stock.

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.