Weave Communications (NYSE:WEAV) Price Target Lowered to $8.00 at Piper Sandler

Weave Communications (NYSE:WEAV) had its price objective decreased by equities researchers at Piper Sandler from $12.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 40.35% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Raymond James Financial lowered Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, January 6th. Stifel Nicolaus reduced their price target on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 31st. Citigroup lowered their price objective on shares of Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.50.

Weave Communications Price Performance

WEAV opened at $5.70 on Friday. The stock has a market cap of $444.77 million, a P/E ratio of -13.26 and a beta of 1.69. Weave Communications has a 12 month low of $5.37 and a 12 month high of $17.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $6.72 and a 200 day simple moving average of $6.91.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Weave Communications had a negative return on equity of 42.10% and a negative net margin of 14.32%.The firm had revenue of $63.40 million for the quarter, compared to analyst estimates of $63.19 million. On average, research analysts expect that Weave Communications will post -0.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Erin Goodsell sold 9,615 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $6.89, for a total value of $66,247.35. Following the completion of the transaction, the insider owned 527,055 shares of the company’s stock, valued at approximately $3,631,408.95. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Hedge funds have recently modified their holdings of the stock. Scalar Gauge Management LLC bought a new stake in Weave Communications during the third quarter worth about $1,164,000. Lane Generational LLC increased its position in shares of Weave Communications by 112.1% during the 3rd quarter. Lane Generational LLC now owns 412,462 shares of the company’s stock worth $2,755,000 after purchasing an additional 217,957 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Weave Communications during the 2nd quarter worth approximately $3,649,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Weave Communications by 162.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 180,346 shares of the company’s stock valued at $1,500,000 after buying an additional 111,687 shares during the last quarter. Finally, Archon Capital Management LLC bought a new position in shares of Weave Communications in the second quarter valued at $1,184,000. Institutional investors own 86.83% of the company’s stock.

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.