Equities researchers at B. Riley Financial initiated coverage on shares of Weave Communications (NYSE:WEAV – Get Free Report) in a research note issued on Tuesday. The firm set a “buy” rating and a $8.25 price target on the stock. B. Riley Financial’s target price points to a potential upside of 49.46% from the company’s previous close.
A number of other analysts also recently weighed in on the stock. Wall Street Zen raised shares of Weave Communications from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.31.
Read Our Latest Report on Weave Communications
Weave Communications Trading Up 1.1%
Weave Communications (NYSE:WEAV – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The company had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. Sell-side analysts forecast that Weave Communications will post -0.27 EPS for the current fiscal year.
Institutional Investors Weigh In On Weave Communications
Institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP raised its position in shares of Weave Communications by 16.3% during the 3rd quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock valued at $40,739,000 after acquiring an additional 855,253 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Weave Communications by 3.4% in the third quarter. Vanguard Group Inc. now owns 5,465,810 shares of the company’s stock worth $36,512,000 after purchasing an additional 179,693 shares during the period. BlackRock Inc. bought a new stake in Weave Communications during the second quarter valued at $31,807,000. Gumshoe Capital Management LLC bought a new stake in Weave Communications during the fourth quarter valued at $22,705,000. Finally, State Street Corp raised its holdings in shares of Weave Communications by 26.8% during the fourth quarter. State Street Corp now owns 2,172,391 shares of the company’s stock worth $16,488,000 after purchasing an additional 459,547 shares during the period. 86.83% of the stock is currently owned by institutional investors.
Weave Communications Company Profile
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.
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