Raymond James Cuts Weave Communications (NYSE:WEAV) Price Target to $17.00

Weave Communications (NYSE:WEAV) had its target price lowered by Raymond James from $20.00 to $17.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler dropped their target price on shares of Weave Communications from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Weave Communications presently has a consensus rating of “Buy” and an average price target of $15.90.

Weave Communications Stock Performance

NYSE WEAV opened at $10.69 on Tuesday. The stock has a market capitalization of $800.98 million, a price-to-earnings ratio of -27.42 and a beta of 1.97. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $13.61. Weave Communications has a 12-month low of $8.10 and a 12-month high of $17.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $54.17 million during the quarter, compared to analysts’ expectations of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. Research analysts expect that Weave Communications will post -0.33 EPS for the current year.

Insider Transactions at Weave Communications

In related news, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the completion of the sale, the chief executive officer now owns 1,790,435 shares in the company, valued at approximately $20,160,298.10. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Blake G. Modersitzki sold 74,756 shares of the company’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 completion of the transaction, the director now owns 179,153 shares in the company, valued at approximately $3,133,385.97. This trade represents a 29.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,265 shares of company stock valued at $5,781,607 in the last ninety days. Corporate insiders own 18.40% of the company’s stock.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently bought and sold shares of WEAV. Wasatch Advisors LP boosted its holdings in shares of Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after purchasing an additional 1,444,828 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Weave Communications by 202.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after buying an additional 1,105,728 shares during the period. Raymond James Financial Inc. purchased a new stake in Weave Communications in the 4th quarter valued at about $14,984,000. Voya Investment Management LLC increased its stake in shares of Weave Communications by 509.2% during the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock valued at $17,500,000 after acquiring an additional 918,804 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Weave Communications by 23.5% during the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after acquiring an additional 863,547 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Company Profile

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.