Weave Communications (NYSE:WEAV) had its price target cut by equities researchers at Citigroup from $19.00 to $12.00 in a research note issued to investors on Friday, The Fly reports. Citigroup’s target price suggests a potential upside of 11.11% from the stock’s previous close.
Several other research firms have also commented on WEAV. The Goldman Sachs Group initiated coverage on Weave Communications in a research report on Monday, December 6th. They issued a “buy” rating and a $37.00 price target for the company. Guggenheim initiated coverage on Weave Communications in a research report on Monday, December 6th. They set a “buy” rating and a $22.00 target price for the company. Loop Capital initiated coverage on Weave Communications in a research report on Monday, December 6th. They set a “buy” rating and a $22.00 target price for the company. Bank of America initiated coverage on Weave Communications in a research report on Monday, December 6th. They set a “buy” rating and a $30.00 target price for the company. Finally, Piper Sandler initiated coverage on Weave Communications in a research report on Monday, December 6th. They set an “overweight” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.78.
WEAV opened at $10.80 on Friday. Weave Communications has a 12 month low of $7.91 and a 12 month high of $22.40. The stock has a 50-day moving average of $12.45.
Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Tuesday, December 7th. The company reported ($1.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.33). The company had revenue of $30.30 million during the quarter, compared to the consensus estimate of $30.18 million. As a group, analysts expect that Weave Communications will post -2.62 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in WEAV. Citigroup Inc. purchased a new stake in shares of Weave Communications in the fourth quarter valued at approximately $33,000. Advisor Group Holdings Inc. purchased a new stake in shares of Weave Communications in the fourth quarter valued at approximately $83,000. JPMorgan Chase & Co. bought a new position in Weave Communications in the fourth quarter worth approximately $100,000. Bank of America Corp DE bought a new position in Weave Communications in the fourth quarter worth approximately $114,000. Finally, M&T Bank Corp bought a new position in Weave Communications in the fourth quarter worth approximately $264,000. Hedge funds and other institutional investors own 13.82% of the company’s stock.
About Weave Communications
Weave Communications Inc provides all-in-one customer communications and engagement software platform for small and medium-sized businesses. Weave Communications Inc is based in LEHI, Utah.
