Weave Communications (NYSE:WEAV) Sets New 52-Week High – Still a Buy?

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week high during trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several research analysts recently commented on WEAV shares. Loop Capital increased their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, 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. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.50.

Weave Communications Stock Performance

The firm has a fifty day simple moving average of $15.37 and a 200 day simple moving average of $13.06. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -40.65 and a beta of 1.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $52.39 million for the quarter, compared to analyst estimates of $51.47 million. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. During the same period in the prior year, the company posted ($0.10) earnings per share. On average, analysts anticipate that Weave Communications, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Weave Communications

In other Weave Communications news, CFO Alan Taylor sold 44,245 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.98, for a total transaction of $707,035.10. Following the transaction, the chief financial officer now owns 301,734 shares in the company, valued at approximately $4,821,709.32. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blake G. Modersitzki sold 242,820 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $14.38, for a total value of $3,491,751.60. Following the completion of the sale, the director now owns 244,616 shares in the company, valued at $3,517,578.08. The trade was a 49.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,116 shares of company stock worth $16,516,528 over the last quarter. 36.30% of the stock is currently owned by insiders.

Institutional Trading of Weave Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its stake in Weave Communications by 5.4% during the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after buying an additional 896 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Weave Communications by 0.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after purchasing an additional 937 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Weave Communications by 11.4% during the third quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock valued at $300,000 after purchasing an additional 2,405 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Weave Communications by 3.8% in the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after acquiring an additional 2,516 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Weave Communications by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after purchasing an additional 3,315 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

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.