Piper Sandler Issues Pessimistic Forecast for Weave Communications (NYSE:WEAV) Stock Price

Weave Communications (NYSE:WEAV) had its target price decreased by Piper Sandler from $17.00 to $14.00 in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, Raymond James reissued a “strong-buy” rating and issued a $20.00 target price (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.50.

Weave Communications Price Performance

NYSE WEAV opened at $10.43 on Wednesday. The stock has a market capitalization of $781.21 million, a P/E ratio of -26.74 and a beta of 1.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The business’s fifty day moving average is $11.17 and its two-hundred day moving average is $13.68. Weave Communications has a 1 year low of $8.10 and a 1 year high of $17.63.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The company had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. On average, research analysts forecast that Weave Communications will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Branden Neish sold 20,741 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $328,952.26. Following the completion of the sale, the insider now directly owns 491,381 shares in the company, valued at approximately $7,793,302.66. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blake G. Modersitzki sold 5,485 shares of Weave Communications stock in a transaction on Friday, February 7th. The shares were sold at an average price of $17.45, for a total value of $95,713.25. Following the sale, the director now directly owns 188,441 shares of the company’s stock, valued at approximately $3,288,295.45. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 595,028 shares of company stock valued at $8,606,000. Corporate insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEAV. Aquatic Capital Management LLC acquired a new position in shares of Weave Communications during the 4th quarter worth $34,000. Summit Investment Advisors Inc. raised its holdings in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after buying an additional 928 shares in the last quarter. Amundi acquired a new stake in shares of Weave Communications in the fourth quarter worth about $66,000. KLP Kapitalforvaltning AS acquired a new position in shares of Weave Communications during the 4th quarter valued at about $131,000. Finally, US Bancorp DE raised its stake in shares of Weave Communications by 8.4% in the 4th quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after acquiring an additional 703 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

About Weave Communications

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.