Wall Street Zen cut shares of Weave Communications (NYSE:WEAV – Free Report) from a buy rating to a hold rating in a report released on Sunday morning.
Other research analysts also recently issued research reports about the company. Piper Sandler downgraded Weave Communications from an “overweight” rating to a “hold” rating and reduced their price target for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price objective for the company. in a report on Wednesday, August 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a research report on Wednesday, July 8th. B. Riley Financial cut Weave Communications from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.25 to $7.40 in a research note on Wednesday, August 19th. Finally, UBS Group restated an “accumulate” rating on shares of Weave Communications in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.84.
Read Our Latest Analysis on Weave Communications
Weave Communications Stock Up 0.1%
Weave Communications (NYSE:WEAV – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. On average, equities research analysts expect that Weave Communications will post -0.22 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in WEAV. California State Teachers Retirement System boosted its position in shares of Weave Communications by 51.0% during the second quarter. California State Teachers Retirement System now owns 5,397 shares of the company’s stock valued at $32,000 after purchasing an additional 1,822 shares in the last quarter. Two Sigma Securities LLC bought a new position in Weave Communications in the second quarter worth $62,000. Corient Private Wealth LP purchased a new position in Weave Communications during the second quarter valued at $120,000. Bank of America Corp DE bought a new stake in shares of Weave Communications during the 2nd quarter valued at $2,999,000. Finally, Man Group plc purchased a new stake in shares of Weave Communications in the 2nd quarter worth about $1,348,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.
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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