Weave Communications (NYSE:WEAV) Posts Quarterly Earnings Results

Weave Communications (NYSE:WEAV) announced its quarterly earnings results on Wednesday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08), Zacks reports. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. The firm had revenue of $47.17 million during the quarter, compared to analyst estimates of $45.89 million. During the same quarter in the previous year, the business posted ($0.12) EPS. Weave Communications updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Weave Communications Stock Performance

Shares of WEAV traded down $2.06 during mid-day trading on Thursday, hitting $8.87. The company’s stock had a trading volume of 1,416,495 shares, compared to its average volume of 413,491. Weave Communications has a one year low of $4.04 and a one year high of $13.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $629.59 million, a PE ratio of -20.22 and a beta of 2.23. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $10.79.

Analysts Set New Price Targets

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

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.