Weave Communications (NYSE:WEAV) Hits New 52-Week High – Time to Buy?

Weave Communications, Inc. (NYSE:WEAV)’s share price reached a new 52-week high on Thursday . The company traded as high as $16.61 and last traded at $16.45, with a volume of 170808 shares changing hands. The stock had previously closed at $16.44.

Wall Street Analysts Forecast Growth

WEAV has been the subject of several analyst reports. The Goldman Sachs Group lifted 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. Piper Sandler boosted their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Loop Capital increased their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.50.

Weave Communications Stock Performance

The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -40.87 and a beta of 1.92. The stock’s 50-day simple moving average is $15.48 and its two-hundred day simple moving average is $13.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. The company had revenue of $52.39 million for the quarter, compared to the consensus estimate of $51.47 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. Analysts forecast that Weave Communications, Inc. will post -0.38 earnings per share for the current year.

Insider Activity at Weave Communications

In other news, insider Branden Neish sold 7,111 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the sale, the insider now owns 512,122 shares of the company’s stock, valued at approximately $8,168,345.90. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Blake G. Modersitzki sold 79,863 shares of Weave Communications stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.30, for a total transaction of $1,142,040.90. Following the completion of the transaction, the director now owns 291,070 shares of the company’s stock, valued at $4,162,301. This trade represents a 21.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,252,643 shares of company stock worth $18,903,105 over the last three months. Company insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

A number of large investors have recently bought and sold shares of WEAV. Wasatch Advisors LP lifted its position in shares of Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after purchasing an additional 1,091,028 shares in the last quarter. Pathway Capital Management LP bought a new position in Weave Communications in the 3rd quarter worth approximately $7,308,000. Lord Abbett & CO. LLC lifted its holdings in Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after buying an additional 239,202 shares in the last quarter. State Street Corp boosted its position in Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after buying an additional 155,054 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Weave Communications by 87.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 326,690 shares of the company’s stock valued at $4,182,000 after buying an additional 152,376 shares during the period. 86.83% of the stock is currently owned by 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.