Weave Communications Inc Down 12.00% To $10.85 After Earnings Beat

Thursday, February 22, 2024 - Weave Communications Inc (WEAV) reported upside earnings and revenues today.

Weave Communications Inc's earnings came in at an EPS loss of $0.01 per share, 67.00% higher than estimates for an EPS loss of $0.03 per share. The firm's loss per share narrowed by 83% since reporting a loss of $0.06 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $44.2 million. The Technology company managed to surpass those expectations for its fourth quarter with revenue of $45.7 million, a positive revenue surprise of $1.5 million (3%). The firm managed 21% growth year-over-year due to Weave Communications Inc reporting quarterly revenue of $37.7 million in its year-ago quarter. Weave Communications Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 12.00% to $10.85 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Weave Communications Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 92, putting Weave Communications Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $13.8 on February 9, 2024 and set a 52-week low on May 3, 2023 at $4.04.

Weave Communications Inc is an all-in-one customer communications and engagement software platform for small and medium-sized businesses. Its platform enables entrepreneurs to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.