Weave Communications (NYSE:WEAV) Sees Large Volume Increase

Weave Communications, Inc. (NYSE:WEAV) shares saw an uptick in trading volume on Friday . 472,926 shares were traded during mid-day 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

WEAV has been the subject of several research reports. Stifel Nicolaus raised their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Raymond James upgraded shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Monday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Weave Communications Price Performance

The company’s 50 day moving average price is $11.49 and its 200 day moving average price is $10.81. 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 company has a market cap of $590.55 million, a price-to-earnings ratio of -19.35 and a beta of 2.23.

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

Institutional Investors Weigh In On Weave Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of WEAV. SG Americas Securities LLC acquired a new position in Weave Communications during the 3rd quarter worth about $88,000. Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 896.6% in the third quarter. Bank of New York Mellon Corp now owns 937,604 shares of the company’s stock worth $7,641,000 after acquiring an additional 843,526 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Weave Communications by 186.2% during the third quarter. Panagora Asset Management Inc. now owns 40,327 shares of the company’s stock worth $329,000 after purchasing an additional 26,237 shares in the last quarter. Barclays PLC grew its stake in shares of Weave Communications by 189.2% during the third quarter. Barclays PLC now owns 18,902 shares of the company’s stock valued at $155,000 after purchasing an additional 12,367 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Weave Communications by 197.6% in the third quarter. New York State Common Retirement Fund now owns 8,268 shares of the company’s stock valued at $67,000 after purchasing an additional 5,490 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

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.