Raymond James Maintains Weave Communications (WEAV) Outperform Recommendation
Fintel reports that on June 30, 2023, Raymond James maintained coverage of Weave Communications (NYSE:WEAV) with a Outperform recommendation.
Analyst Price Forecast Suggests 42.82% Downside
As of June 2, 2023, the average one-year price target for Weave Communications is 6.19. The forecasts range from a low of 5.05 to a high of $7.88. The average price target represents a decrease of 42.82% from its latest reported closing price of 10.83.
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The projected annual revenue for Weave Communications is 166MM, an increase of 12.17%. The projected annual non-GAAP EPS is -0.37.
What is the Fund Sentiment?
There are 150 funds or institutions reporting positions in Weave Communications. This is an increase of 13 owner(s) or 9.49% in the last quarter. Average portfolio weight of all funds dedicated to WEAV is 0.31%, an increase of 56.86%. Total shares owned by institutions decreased in the last three months by 1.72% to 40,678K shares. 
The put/call ratio of WEAV is 1.55, indicating a bearish outlook.
What are Other Shareholders Doing?
Crosslink Capital holds 9,589K shares representing 14.37% ownership of the company. No change in the last quarter.
Deer Management Co. holds 7,567K shares representing 11.34% ownership of the company. No change in the last quarter.
Pelion holds 5,545K shares representing 8.31% ownership of the company. No change in the last quarter.
Tiger Global Management holds 4,937K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 5,251K shares, representing a decrease of 6.36%. The firm decreased its portfolio allocation in WEAV by 24.24% over the last quarter.
Wasatch Advisors holds 2,879K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 2,581K shares, representing an increase of 10.36%. The firm increased its portfolio allocation in WEAV by 11.96% over the last quarter.
Weave Communications Background Information
(This description is provided by the company.)
Weave is the all-in-one customer communications platform for small business. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. The first Utah company to join Y Combinator, Weave has set the bar for Utah startup achievement & work culture. In the past year, Weave has been included in the Forbes Cloud 100, Inc. 5000 fastest-growing companies in America, and Glassdoor Best Places to Work.
Key filings for this company:
This story originally appeared on Fintel.