Weave Communications Inc. (NYSE: WEAV) stock jumped 0.22% on Friday to $9.02 against a previous-day closing price of $9.00. With 0.75 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.68 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $9.03 whereas the lowest price it dropped to was $8.79. The 52-week range on WEAV shows that it touched its highest point at $12.45 and its lowest point at $3.74 during that stretch. It currently has a 1-year price target of $13.43. Beta for the stock currently stands at 2.07.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WEAV was down-trending over the past week, with a drop of -6.63%, but this was down by -14.26% over a month. Three-month performance surged to 3.92% while six-month performance rose 97.37%. The stock gained 50.08% in the past year, while it has gained 96.94% so far this year. A look at the trailing 12-month EPS for WEAV yields -0.58 with Next year EPS estimates of -0.13. For the next quarter, that number is -0.06. This implies an EPS growth rate of 10.40% for this year and 43.50% for next year.
Float and Shares Shorts:
At present, 66.85 million WEAV shares are outstanding with a float of 46.51 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.25 million, which was 1.85% higher than short shares on Jul 30, 2023. In addition to Mr. Brett T. White as the firm’s CEO & Director, Ms. Erin Goodsell serves as its Chief Legal Officer & Corp. Sec.
Institutional Ownership:
Other institutions hold 64.29% of WEAV, in contrast to 29.86% held by mutual funds. Shares owned by individuals account for 13.71%. As the largest shareholder in WEAV with 14.24% of the stake, Crosslink Capital, Inc. holds 9,619,421 shares worth 9,619,421. A second-largest stockholder of WEAV, The Vanguard Group, Inc., holds 2,072,295 shares, controlling over 3.07% of the firm’s shares. Wasatch Advisors, Inc. is the third largest shareholder in WEAV, holding 2,067,765 shares or 3.06% stake. With a 1.59% stake in WEAV, the Wasatch Micro Cap Fund is the largest stakeholder. A total of 1,070,637 shares are owned by the mutual fund manager. The WisdomTree Tr. – Cloud Computing, which owns about 1.31% of WEAV stock, is the second-largest Mutual Fund holder. It holds 886,995 shares valued at 9.06 million. Vanguard Total Stock Market ETF holds 1.28% of the stake in WEAV, owning 862,525 shares worth 8.81 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, WEAV reported revenue of $34.93M and operating income of -$14.59M. The EBITDA in the recently reported quarter was -$10.16M and diluted EPS was -$0.23.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WEAV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With WEAV analysts setting a high price target of $15.00 and a low target of $11.00, the average target price over the next 12 months is $13.43. Based on these targets, WEAV could surge 66.3% to reach the target high and rise by 21.95% to reach the target low. Reaching the average price target will result in a growth of 48.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded WEAV stock several times over the past three months with 1 Buys and 23 Sells. In these transactions, 10,505 shares were bought while 1,787,938 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 2,301,231 while 2,799,662 shares were sold.
