Weave Communications (NYSE:WEAV) Sees Large Volume Increase

Shares of Weave Communications, Inc. (NYSE:WEAV) saw unusually-high trading volume on Friday . Approximately 472,926 shares changed hands during trading, an increase of 13% from the previous session’s volume of 418,919 shares.The stock last traded at $8.59 and had previously closed at $8.65.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WEAV shares. Stifel Nicolaus lifted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price on shares of Weave Communications in a report on Thursday, February 22nd. Finally, Raymond James raised 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. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Weave Communications currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Weave Communications Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $590.55 million, a price-to-earnings ratio of -19.81 and a beta of 2.23. The company has a fifty day moving average of $11.54 and a two-hundred day moving average of $10.77.

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

Hedge Funds Weigh In On Weave Communications

Hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its holdings in Weave Communications by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 462,704 shares of the company’s stock worth $5,307,000 after acquiring an additional 1,397 shares during the period. New York State Common Retirement Fund increased its holdings in Weave Communications by 29.2% in the fourth quarter. New York State Common Retirement Fund now owns 10,683 shares of the company’s stock worth $123,000 after purchasing an additional 2,415 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Weave Communications by 153.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the company’s stock worth $46,000 after buying an additional 2,427 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Weave Communications by 25.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 13,026 shares of the company’s stock worth $106,000 after buying an additional 2,658 shares during the period. Finally, Quadrature Capital Ltd increased its stake in shares of Weave Communications by 5.2% in the 3rd quarter. Quadrature Capital Ltd now owns 113,779 shares of the company’s stock valued at $928,000 after acquiring an additional 5,635 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

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.