Yahoo Finance Weave Communications, Inc. (WEAV) Advances But Underperforms Market: Key Facts
Weave Communications, Inc. (WEAV) closed at $10.89 in the latest trading session, marking a +0.74% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.87% for the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.
The company's shares have seen a decrease of 7.13% over the last month, not keeping up with the Computer and Technology sector's loss of 5.98% and the S&P 500's loss of 3.97%.
Market participants will be closely following the financial results of Weave Communications, Inc. in its upcoming release. The company plans to announce its earnings on May 1, 2024. The company is expected to report EPS of -$0.02, up 60% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $45.89 million, reflecting a 15.98% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.03 per share and a revenue of $196.97 million, indicating changes of +75% and +15.55%, respectively, from the former year.
Any recent changes to analyst estimates for Weave Communications, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Weave Communications, Inc. holds a Zacks Rank of #1 (Strong Buy).
The Communication - Network Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Weave Communications, Inc. (WEAV) : Free Stock Analysis Report
