Piper Sandler Lowers Weave Communications (NYSE:WEAV) Price Target to $12.00

Weave Communications (NYSE:WEAV) had its price target dropped by investment analysts at Piper Sandler from $15.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 61.25% from the company’s previous close.

A number of other research analysts have also recently commented on WEAV. Stifel Nicolaus decreased their price objective on Weave Communications from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a report on Tuesday, October 14th. Finally, Raymond James Financial decreased their price objective on Weave Communications from $17.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

Weave Communications Trading Up 14.0%

Shares of Weave Communications stock opened at $7.44 on Friday. The stock has a market cap of $573.33 million, a P/E ratio of -17.31 and a beta of 1.70. The stock’s 50 day simple moving average is $7.20 and its 200-day simple moving average is $8.28. Weave Communications has a 1-year low of $6.35 and a 1-year high of $17.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share for the quarter. Weave Communications had a negative return on equity of 43.15% and a negative net margin of 14.32%.The company had revenue of $58.50 million for the quarter, compared to analyst estimates of $57.81 million. Analysts predict that Weave Communications will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, COO Marcus Bertilson sold 13,836 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $106,952.28. Following the sale, the chief operating officer owned 338,592 shares of the company’s stock, valued at $2,617,316.16. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Paul Christiansen sold 3,897 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $7.50, for a total value of $29,227.50. Following the completion of the sale, the chief financial officer directly owned 313,484 shares in the company, valued at approximately $2,351,130. The trade was a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 107,179 shares of company stock valued at $825,403 over the last quarter. 18.40% of the stock is owned by corporate insiders.

Institutional Trading of Weave Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scalar Gauge Management LLC purchased a new stake in Weave Communications in the third quarter valued at approximately $1,164,000. Andina Capital Management LLC raised its position in Weave Communications by 102.6% in the third quarter. Andina Capital Management LLC now owns 35,489 shares of the company’s stock valued at $237,000 after purchasing an additional 17,974 shares during the period. Sterling Investment Counsel LLC purchased a new stake in Weave Communications in the third quarter valued at approximately $319,000. Avanza Fonder AB raised its position in Weave Communications by 40.0% in the third quarter. Avanza Fonder AB now owns 20,963 shares of the company’s stock valued at $140,000 after purchasing an additional 5,992 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Weave Communications in the third quarter valued at approximately $454,000. 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.