Weave Communications (NYSE:WEAV) PT Raised to $16.00

Weave Communications (NYSE:WEAV) had its price objective lifted by equities research analysts at Piper Sandler from $15.00 to $16.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 48.84% from the stock’s previous close.

Weave Communications Stock Up 7.5 %

Shares of WEAV stock traded up $0.75 during mid-day trading on Thursday, hitting $10.75. The company’s stock had a trading volume of 535,751 shares, compared to its average volume of 402,772. Weave Communications has a 52-week low of $6.67 and a 52-week high of $13.80. The business has a 50-day moving average price of $9.16 and a 200 day moving average price of $10.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $764.54 million, a price-to-earnings ratio of -25.00 and a beta of 2.07.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The business had revenue of $47.17 million during the quarter, compared to analysts’ expectations of $45.89 million. Weave Communications had a negative return on equity of 31.74% and a negative net margin of 17.06%. During the same quarter in the prior year, the firm earned ($0.12) EPS. Research analysts predict that Weave Communications will post -0.39 EPS for the current fiscal year.

Institutional Trading of Weave Communications

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in Weave Communications by 153.7% in the fourth 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. AJOVista LLC purchased a new stake in Weave Communications in the fourth quarter worth about $67,000. Quest Partners LLC purchased a new stake in Weave Communications in the fourth quarter worth about $77,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after buying an additional 3,228 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Weave Communications in the second quarter worth about $98,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.