Weave Communications (NYSE:WEAV) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Weave Communications (NYSE:WEAVGet Rating) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Weave Communications Inc. provides all-in-one customer communications and engagement software platform for small and medium-sized businesses. Weave Communications Inc. is based in LEHI, Utah. “

WEAV has been the subject of a number of other reports. Piper Sandler lowered Weave Communications from an overweight rating to a neutral rating and decreased their price target for the company from $20.00 to $9.00 in a research note on Thursday, March 3rd. Citigroup decreased their price target on Weave Communications from $12.00 to $10.00 and set a neutral rating for the company in a research note on Thursday, March 3rd. The Goldman Sachs Group decreased their price target on Weave Communications from $13.00 to $8.00 and set a neutral rating for the company in a research note on Thursday, April 14th. Guggenheim cut their price objective on Weave Communications from $22.00 to $11.00 and set a buy rating for the company in a research report on Thursday, March 3rd. Finally, Raymond James downgraded Weave Communications from an outperform rating to a market perform rating in a research report on Thursday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $16.22.

NYSE:WEAV opened at $4.36 on Wednesday. The company’s 50 day moving average is $5.46. Weave Communications has a 52 week low of $4.08 and a 52 week high of $22.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.84 and a quick ratio of 2.84.

Weave Communications (NYSE:WEAVGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Equities research analysts anticipate that Weave Communications will post -0.87 EPS for the current year.

In other news, Director Blake G. Modersitzki acquired 37,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tiger Global Management Llc sold 62,840 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $4.38, for a total value of $275,239.20. Following the sale, the insider now owns 7,058,656 shares of the company’s stock, valued at $30,916,913.28. The disclosure for this sale can be found here. 42.20% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Weave Communications during the fourth quarter worth $45,000. Northern Trust Corp acquired a new position in Weave Communications during the fourth quarter worth $490,000. Lead Edge Capital Management LLC acquired a new position in Weave Communications during the fourth quarter worth $53,140,000. Deer Management Co. LLC acquired a new position in Weave Communications during the fourth quarter worth $114,862,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in Weave Communications during the fourth quarter worth $8,418,000. Institutional investors and hedge funds own 56.45% 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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