Brokerages Set Weave Communications, Inc. (NYSE:WEAV) PT at $16.13

Shares of Weave Communications, Inc. (NYSE:WEAVGet Rating) have been given an average recommendation of “Buy” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.50.

A number of research firms have recently weighed in on WEAV. Stifel Nicolaus dropped their target price on shares of Weave Communications from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, March 21st. The Goldman Sachs Group dropped their target price on shares of Weave Communications from $13.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James lowered shares of Weave Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, March 3rd. Citigroup dropped their target price on shares of Weave Communications from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, March 3rd. Finally, Guggenheim dropped their target price on shares of Weave Communications from $22.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 3rd.

Shares of NYSE:WEAV traded down $0.44 on Friday, reaching $5.08. 93,871 shares of the company traded hands, compared to its average volume of 100,632. The business has a 50-day simple moving average of $7.22. Weave Communications has a 52 week low of $5.04 and a 52 week high of $22.40. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.15.

Weave Communications (NYSE:WEAVGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.01. The company had revenue of $31.84 million for the quarter, compared to the consensus estimate of $32.18 million. As a group, research analysts predict that Weave Communications will post -0.87 EPS for the current year.

In related news, Director Blake G. Modersitzki acquired 37,000 shares of the stock in a transaction on Monday, March 7th. The stock was acquired at an average cost of $6.47 per share, for a total transaction of $239,390.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Several hedge funds have recently added to or reduced their stakes in the company. Deer Management Co. LLC purchased a new position in shares of Weave Communications during the fourth quarter valued at approximately $114,862,000. Lead Edge Capital Management LLC purchased a new position in shares of Weave Communications during the fourth quarter valued at approximately $53,140,000. W Capital Management LLC purchased a new position in shares of Weave Communications during the fourth quarter valued at approximately $29,246,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Weave Communications during the fourth quarter valued at approximately $8,418,000. Finally, Citadel Advisors LLC bought a new stake in shares of Weave Communications during the fourth quarter valued at approximately $5,293,000. Hedge funds and other institutional investors own 17.21% of the company’s stock.

About Weave Communications (Get Rating)

Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.

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Analyst Recommendations for Weave Communications (NYSE:WEAV)

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