Weave Communications (NYSE:WEAV) Shares Gap Down to $8.94

Weave Communications, Inc. (NYSE:WEAV)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $8.94, but opened at $8.59. Weave Communications shares last traded at $8.59, with a volume of 3,863 shares.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Weave Communications Trading Up 1.3 %

The business’s 50 day simple moving average is $9.34 and its 200 day simple moving average is $10.93. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last released its earnings results on Wednesday, May 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Weave Communications had a negative return on equity of 31.74% and a negative net margin of 17.06%. The firm had revenue of $47.17 million for the quarter, compared to the consensus estimate of $45.89 million. During the same quarter in the previous year, the business posted ($0.12) EPS. As a group, analysts expect that Weave Communications, Inc. will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently added to or reduced their stakes in WEAV. Barclays PLC grew its holdings in Weave Communications by 189.2% during the 3rd quarter. Barclays PLC now owns 18,902 shares of the company’s stock valued at $155,000 after buying an additional 12,367 shares in the last quarter. Swiss National Bank purchased a new position in shares of Weave Communications in the third quarter valued at $419,000. Federated Hermes Inc. grew its holdings in shares of Weave Communications by 6.0% in the third quarter. Federated Hermes Inc. now owns 461,307 shares of the company’s stock valued at $3,760,000 after purchasing an additional 25,988 shares in the last quarter. Algert Global LLC grew its holdings in shares of Weave Communications by 13.4% in the third quarter. Algert Global LLC now owns 101,409 shares of the company’s stock valued at $826,000 after purchasing an additional 12,009 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Weave Communications by 18.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,699 shares of the company’s stock valued at $2,092,000 after purchasing an additional 40,270 shares in the last quarter. 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.