Weave Communications (NYSE:WEAV) Sees Large Volume Increase

Weave Communications, Inc. (NYSE:WEAV) shares saw unusually-high trading volume on Friday . Approximately 472,926 shares changed hands during trading, an increase of 13% from the previous session’s volume of 418,919 shares.The stock last traded at $8.59 and had previously closed at $8.65.

Wall Street Analysts Forecast Growth

WEAV has been the subject of several research reports. Raymond James upgraded Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price on shares of Weave Communications in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Weave Communications Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $590.55 million, a price-to-earnings ratio of -19.35 and a beta of 2.23. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $10.81.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The firm had revenue of $47.17 million during the quarter, compared to analyst estimates of $45.89 million. Weave Communications had a negative return on equity of 31.24% and a negative net margin of 17.06%. During the same period last year, the business earned ($0.12) EPS. On average, equities research analysts predict that Weave Communications, Inc. will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently made changes to their positions in WEAV. Federated Hermes Inc. lifted its holdings in Weave Communications by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 462,704 shares of the company’s stock worth $5,307,000 after purchasing an additional 1,397 shares during the period. New York State Common Retirement Fund raised its position in shares of Weave Communications by 29.2% during the 4th quarter. New York State Common Retirement Fund now owns 10,683 shares of the company’s stock worth $123,000 after buying an additional 2,415 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Weave Communications by 153.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the company’s stock worth $46,000 after acquiring an additional 2,427 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Weave Communications by 25.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 13,026 shares of the company’s stock valued at $106,000 after acquiring an additional 2,658 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Weave Communications by 5.2% during the third quarter. Quadrature Capital Ltd now owns 113,779 shares of the company’s stock valued at $928,000 after acquiring an additional 5,635 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

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.