Weave Communications (NYSE:WEAV) Given “Strong-Buy” Rating at Raymond James

Weave Communications (NYSE:WEAV)‘s stock had its “strong-buy” rating reissued by equities research analysts at Raymond James in a report released on Friday,Benzinga reports. They currently have a $20.00 price target on the stock, up from their previous price target of $17.00. Raymond James’ price objective would suggest a potential upside of 42.89% from the company’s current price.

A number of other brokerages also recently weighed in on WEAV. Loop Capital boosted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their target price on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Weave Communications has an average rating of “Buy” and an average target price of $17.50.

Weave Communications Price Performance

NYSE WEAV traded down $2.89 during mid-day trading on Friday, hitting $14.00. The stock had a trading volume of 2,336,573 shares, compared to its average volume of 836,592. Weave Communications has a twelve month low of $8.10 and a twelve month high of $17.63. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -34.89 and a beta of 1.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The firm’s 50 day moving average is $16.25 and its 200 day moving average is $13.81.

Weave Communications (NYSE:WEAV) last issued its quarterly 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 28.01% and a negative net margin of 14.64%. The firm had revenue of $54.17 million during the quarter, compared to analysts’ expectations of $53.23 million. Equities research analysts forecast that Weave Communications will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, Director Blake G. Modersitzki sold 120,551 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $13.90, for a total transaction of $1,675,658.90. Following the sale, the director now owns 262,440 shares of the company’s stock, valued at $3,647,916. The trade was a 31.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Branden Neish sold 7,111 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.95, for a total value of $113,420.45. Following the sale, the insider now owns 512,122 shares in the company, valued at $8,168,345.90. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,190,043 shares of company stock valued at $18,442,044 over the last quarter. Insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently made changes to their positions in WEAV. FMR LLC boosted its stake in shares of Weave Communications by 161.9% in the third quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after acquiring an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Weave Communications by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after buying an additional 45,475 shares in the last quarter. XTX Topco Ltd increased its holdings in Weave Communications by 429.2% during the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after buying an additional 45,430 shares during the period. Pathway Capital Management LP purchased a new stake in shares of Weave Communications during the third quarter valued at about $7,308,000. Finally, Summit Global Investments acquired a new stake in shares of Weave Communications in the 3rd quarter worth $460,000. Hedge funds and other 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.