Weave Communications (NYSE:WEAV) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Weave Communications (NYSE:WEAV) from a buy rating to a hold rating in a research note released on Sunday morning.

A number of other brokerages have also recently commented on WEAV. Piper Sandler cut Weave Communications from an “overweight” rating to a “hold” rating and decreased their price target for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. B. Riley Financial lowered Weave Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.25 to $7.40 in a research note on Wednesday, August 19th. Loop Capital cut shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a report on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Finally, UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.84.

Weave Communications Stock Up 0.1%

Shares of NYSE:WEAV opened at $7.30 on Friday. The stock has a market capitalization of $584 million, a P/E ratio of -29.20 and a beta of 1.67. The stock’s 50-day moving average price is $6.30 and its 200-day moving average price is $5.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 12-month low of $4.24 and a 12-month high of $8.11.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $67.54 million during the quarter, compared to analyst estimates of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. On average, equities analysts anticipate that Weave Communications will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC purchased a new stake in Weave Communications in the 4th quarter worth approximately $26,000. Optiver Holding B.V. increased its stake in shares of Weave Communications by 1,201.2% during the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after buying an additional 6,775 shares during the period. Legal & General Group Plc purchased a new position in shares of Weave Communications during the second quarter valued at approximately $38,000. Amundi increased its stake in shares of Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Weave Communications during the second quarter valued at approximately $60,000. Institutional investors own 86.83% of the company’s stock.

Weave Communications Company Profile

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.