Weave Communications (NYSE:WEAV) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Weave Communications (NYSE:WEAV) from a hold rating to a buy rating in a report published on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.33.

Weave Communications Stock Up 2.9%

NYSE:WEAV opened at $5.47 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. Weave Communications has a 12-month low of $4.24 and a 12-month high of $8.11. The stock’s fifty day simple moving average is $6.17 and its 200-day simple moving average is $5.68. The firm has a market capitalization of $438 million, a P/E ratio of -21.90 and a beta of 1.67.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Amundi boosted its position in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after purchasing an additional 1,130 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after acquiring an additional 1,457 shares during the period. Creative Planning acquired a new position in shares of Weave Communications during the 2nd quarter worth approximately $143,000. JPMorgan Chase & Co. raised its position in shares of Weave Communications by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 292,452 shares of the company’s stock valued at $2,433,000 after purchasing an additional 7,651 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Weave Communications by 83.9% in the second quarter. Legal & General Group Plc now owns 65,657 shares of the company’s stock valued at $546,000 after purchasing an additional 29,958 shares during the period. Institutional investors and hedge funds own 86.83% of the company’s stock.

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.