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

Weave Communications, Inc. (NYSE:WEAV) 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 trading, a decline of 77% from the average session volume of 1,045,516 shares. The stock had previously closed at $7.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Weave Communications in a report on Monday. Piper Sandler dropped their target price on Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Citigroup decreased their price target on Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Finally, Stifel Nicolaus lowered 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 assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Weave Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Weave Communications Price Performance

The firm has a market cap of $581.68 million, a PE ratio of -17.34 and a beta of 1.72. The company has a 50 day moving average price of $6.61 and a 200 day moving average price of $7.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $61.34 million during the quarter, compared to analysts’ expectations of $60.67 million. On average, sell-side analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Weave Communications

In related news, Director Tyler Newton sold 50,993 shares of the firm’s stock in a transaction that occurred on 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 owned 50,992 shares in the company, valued at approximately $340,626.56. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erin Goodsell sold 9,615 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $6.89, for a total value of $66,247.35. Following the sale, the insider owned 527,055 shares in the company, valued at approximately $3,631,408.95. The trade was a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.40% of the company’s stock.

Institutional Trading of Weave Communications

Institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its holdings in Weave Communications by 16.3% during the 3rd quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock worth $40,739,000 after acquiring an additional 855,253 shares in the last quarter. Vanguard Group Inc. grew its stake in Weave Communications by 3.4% in the third quarter. Vanguard Group Inc. now owns 5,465,810 shares of the company’s stock worth $36,512,000 after purchasing an additional 179,693 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in Weave Communications in the second quarter valued at about $16,915,000. Voya Investment Management LLC raised its stake in Weave Communications by 26.2% during the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company’s stock valued at $15,382,000 after buying an additional 287,785 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN bought a new position in Weave Communications during the 3rd quarter worth approximately $8,453,000. 86.83% of the stock is 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.