Weave Communications Inc (NYSE:WEAV) price on Friday, February 28, rose 1.45% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $12.60.
A look at the stock’s price movement, the close in the last trading session was $12.42. Turning to its 52-week performance, $17.63 and $8.10 were the 52-week high and 52-week low respectively. Overall, WEAV moved -23.36% over the past month.
Weave Communications Inc’s market cap currently stands at around $916.92 million, with investors looking forward to this quarter’s earnings report slated for in April.
Analysts have a consensus estimate of 54.68M for the company’s revenue for the quarter, with a low and high estimate of 54.44M and 54.96M respectively. The average forecast suggests up to a 15.91% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 235.06M, representing a 15.05% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that WEAV is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 2 recommend WEAV as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
WEAV’s current price about -20.48% and -20.68% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 22.33, while 7-day volatility ratio is 5.04% and 4.09% in the 30-day chart. Further, Weave Communications Inc (WEAV) has a beta value of 1.99, and an average true range (ATR) of 0.68. Analysts have given the company’s stock an average 52-week price target of $17.5, forecast between a low of $17 and high of $18. Looking at the price targets, the low is -34.92% off current price level while to achieve the yearly target high, price needs to move -42.86%. Nonetheless, investors will most likely welcome a -38.89% jump to $17.5 which is the analysts’ median price.
If we refocus on Weave Communications Inc (NYSE:WEAV), historical trading data shows that trading volumes averaged 1.03 million over the past 3 months. The company’s latest data on shares outstanding shows there are 73.23 million shares.
The 15.36% of Weave Communications Inc’s shares are in the hands of company insiders while institutional holders own 75.43% of the company’s shares. Current price change has pushed the stock -20.85% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WEAV stock continues to rise going into the next quarter.
