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Weave Communications (WEAV) Surges 8.1%: Is This an Indication of Further Gains? September 20, 2024
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Weave Communications, Inc. (WEAV - Free Report) shares ended the last trading session 8.1% higher at $12.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% gain over the past four weeks.
Weave is benefiting from the growing adoption of its solution, which is driving average revenue per user. Expanding footprint in the dental, optometry, veterinary and specialty medical markets has been a positive.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $51.47 million, up 18.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Weave Communications, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WEAV going forward to see if this recent jump can turn into more strength down the road.
Weave Communications is a member of the Zacks Communication - Network Software industry. One other stock in the same industry, Frontier Communications (FYBR - Free Report) , finished the last trading session 0.1% higher at $35.39. FYBR has returned 23.3% over the past month.
Frontier Communications' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.22. Compared to the company's year-ago EPS, this represents a change of -540%. Frontier Communications currently boasts a Zacks Rank of #3 (Hold).
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Weave Communications, Inc. (WEAV - Free Report) shares ended the last trading session 8.1% higher at $12.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.2% gain over the past four weeks.
Weave is benefiting from the growing adoption of its solution, which is driving average revenue per user. Expanding footprint in the dental, optometry, veterinary and specialty medical markets has been a positive.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $51.47 million, up 18.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Weave Communications, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WEAV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Weave Communications is a member of the Zacks Communication - Network Software industry. One other stock in the same industry, Frontier Communications (FYBR - Free Report) , finished the last trading session 0.1% higher at $35.39. FYBR has returned 23.3% over the past month.
Frontier Communications' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.22. Compared to the company's year-ago EPS, this represents a change of -540%. Frontier Communications currently boasts a Zacks Rank of #3 (Hold).