Raymond James Reaffirms Strong-Buy Rating for Weave Communications (NYSE:WEAV)

Weave Communications (NYSE:WEAV)‘s stock had its “strong-buy” rating restated by stock analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $20.00 price target on the stock, up from their previous price target of $17.00. Raymond James’ price target indicates a potential upside of 40.30% from the stock’s previous close.

Several other research analysts have also weighed in on WEAV. Piper Sandler increased their price objective on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Loop Capital raised their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Weave Communications Stock Down 15.6 %

NYSE WEAV opened at $14.26 on Friday. The business’s fifty day simple moving average is $16.23 and its 200-day simple moving average is $13.87. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.04 billion, a PE ratio of -36.55 and a beta of 1.91. Weave Communications has a 52 week low of $8.10 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, February 20th. The company reported ($0.09) 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 firm had revenue of $54.17 million for the quarter, compared to analysts’ expectations of $53.23 million. As a group, equities analysts anticipate that Weave Communications will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other Weave Communications news, Director Blake G. Modersitzki sold 74,756 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $17.49, for a total transaction of $1,307,482.44. Following the sale, the director now directly owns 179,153 shares in the company, valued at $3,133,385.97. This represents a 29.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alan Taylor sold 12,044 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $16.15, for a total transaction of $194,510.60. Following the completion of the transaction, the chief financial officer now directly owns 287,798 shares of the company’s stock, valued at approximately $4,647,937.70. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,190,043 shares of company stock worth $18,442,044 over the last ninety days. Corporate insiders own 36.30% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Weave Communications by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company’s stock valued at $174,000 after acquiring an additional 597 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Weave Communications by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock worth $388,000 after acquiring an additional 620 shares in the last quarter. US Bancorp DE increased its holdings in Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after buying an additional 703 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Weave Communications by 28.9% in 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. Finally, Harbor Capital Advisors Inc. lifted its holdings in Weave Communications by 0.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds 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.