Weave Communications’ (WEAV) Strong-Buy Rating Reiterated at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of Weave Communications (NYSE:WEAV) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $20.00 price objective on the stock, up from their prior price objective of $17.00.

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

Weave Communications Price Performance

Shares of WEAV stock opened at $14.26 on Friday. 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 company has a market capitalization of $1.04 billion, a P/E ratio of -35.64 and a beta of 1.91. The company’s 50-day simple moving average is $16.23 and its two-hundred day simple moving average is $13.84. Weave Communications has a one year low of $8.10 and a one year 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). The company had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. As a group, equities analysts anticipate that Weave Communications will post -0.38 EPS for the current year.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, Director Blake G. Modersitzki sold 10,029 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.12, for a total value of $141,609.48. Following the completion of the sale, the director now directly owns 281,926 shares in the company, valued at $3,980,795.12. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett T. White sold 54,778 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $15.86, for a total transaction of $868,779.08. Following the completion of the sale, the chief executive officer now owns 1,928,364 shares of the company’s stock, valued at approximately $30,583,853.04. This trade represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,190,043 shares of company stock worth $18,442,044 over the last three months. Corporate insiders own 36.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of 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 worth $174,000 after buying an additional 597 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Weave Communications by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock worth $388,000 after buying an additional 620 shares during the last quarter. US Bancorp DE raised its holdings in shares of Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock worth $144,000 after buying an additional 703 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after buying an additional 928 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Weave Communications by 0.6% in the fourth 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. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.