Weave Communications (NYSE:WEAV) Shares Gap Up – Should You Buy?

Weave Communications, Inc. (NYSE:WEAV)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.53, but opened at $7.29. Weave Communications shares last traded at $7.2950, with a volume of 15,869,601 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. B. Riley Financial began coverage on Weave Communications in a research note on Tuesday. They issued a “buy” rating and a $8.25 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.31.

Weave Communications Trading Up 31.7%

The firm has a market cap of $582.80 million, a P/E ratio of -29.14 and a beta of 1.67. The business’s 50-day moving average is $6.16 and its two-hundred day moving average is $5.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The firm had revenue of $67.54 million during the quarter, compared to the consensus estimate of $67.88 million. As a group, analysts expect that Weave Communications, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Weave Communications during the fourth quarter valued at approximately $26,000. Optiver Holding B.V. increased its position in shares of Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after purchasing an additional 6,775 shares during the period. Legal & General Group Plc acquired a new position in shares of Weave Communications during the 2nd quarter valued at $38,000. Amundi raised its stake in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after buying an additional 1,130 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Weave Communications in the second quarter valued at $60,000. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.