Weave Communications (NYSE:WEAV) Shares Up 3.8% – Still a Buy?

Weave Communications, Inc. (NYSE:WEAV)’s share price traded up 3.8% during trading on Wednesday . The stock traded as high as $7.50 and last traded at $7.5450. 244,544 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,045,516 shares. The stock had previously closed at $7.27.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of Weave Communications from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Weave Communications in a report on Monday. Piper Sandler decreased their price target on shares of Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Stifel Nicolaus cut their price objective on Weave Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Weave Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Weave Communications Stock Performance

The firm’s 50-day moving average price is $6.64 and its two-hundred day moving average price is $7.27. The firm has a market capitalization of $594.59 million, a PE ratio of -17.72 and a beta of 1.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 42.10%. The business had revenue of $61.34 million during the quarter, compared to the consensus estimate of $60.67 million. As a group, research analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, insider Erin Goodsell sold 9,615 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $6.89, for a total transaction of $66,247.35. Following the completion of the sale, the insider directly owned 527,055 shares in the company, valued at approximately $3,631,408.95. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tyler Newton sold 50,993 shares of Weave Communications stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $6.68, for a total value of $340,633.24. Following the transaction, the director directly owned 50,992 shares in the company, valued at approximately $340,626.56. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 18.40% of the company’s stock.

Institutional Trading of Weave Communications

Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP increased its stake in Weave Communications by 16.3% in the 3rd quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock valued at $40,739,000 after buying an additional 855,253 shares during the period. Vanguard Group Inc. grew its holdings in shares of Weave Communications by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,465,810 shares of the company’s stock valued at $36,512,000 after acquiring an additional 179,693 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new position in shares of Weave Communications in the second quarter worth $16,915,000. Voya Investment Management LLC increased its stake in shares of Weave Communications by 26.2% in the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company’s stock worth $15,382,000 after acquiring an additional 287,785 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN purchased a new stake in shares of Weave Communications during the third quarter worth $8,453,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.