Weave Communications (NYSE:WEAV) Issues Earnings Results

Weave Communications (NYSE:WEAV) released its quarterly earnings data on Wednesday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08), Zacks reports. The company had revenue of $47.17 million for the quarter, compared to the consensus estimate of $45.89 million. Weave Communications had a negative return on equity of 31.93% and a negative net margin of 18.20%. During the same period in the prior year, the business earned ($0.12) earnings per share. Weave Communications updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Weave Communications Stock Performance

Weave Communications stock traded down $1.99 during trading hours on Thursday, hitting $8.94. The stock had a trading volume of 1,551,954 shares, compared to its average volume of 414,848. The company has a 50-day moving average of $11.59 and a two-hundred day moving average of $10.79. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.08. The company has a market cap of $634.56 million, a PE ratio of -20.22 and a beta of 2.23. Weave Communications has a fifty-two week low of $4.04 and a fifty-two week high of $13.80.

Analyst Upgrades and Downgrades

WEAV has been the subject of several research reports. Stifel Nicolaus raised their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Raymond James raised Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Monday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Weave Communications in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Weave Communications Company Profile

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.