Weave Communications’ Stock Surpasses Analyst Price Target: What’s Next?
Weave Communications Inc (Symbol: WEAV) has recently seen its shares trade above the average analyst 12-month target price of $16.50, currently priced at $16.83 per share. When a stock reaches an analyst’s set target, two main reactions often occur: either a downgrade due to perceived overvaluation, or an upward revision of the target price. Analyst responses can also hinge on the company’s performance and future outlook, prompting discussions on whether the target price needs adjusting.
Analyst Consensus and Price Targets
Within the Zacks coverage universe, there are seven different analyst targets for Weave Communications, forming the average price analysis. This average target isn’t definitive—some analysts maintain lower price targets, with one suggesting a target of $13.00, while another sets a more optimistic price at $20.00. The calculation reveals a standard deviation of $2.291, indicating variation among analyst expectations.
Understanding Crowd Wisdom in Stock Predictions
The purpose of examining the average price target is to benefit from a “wisdom of crowds” approach, showcasing the collective input of multiple analysts rather than relying on a single expert’s view. With WEAV shares exceeding the average target of $16.50, investors are encouraged to analyze the company further. They must decide if this price is merely a waypoint toward a more ambitious target or if the valuation has become too inflated, suggesting it may be prudent to take some profits now.
| Recent WEAV Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 5 | 5 | 5 | 5 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 2 | 2 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.57 | 1.57 | 1.57 | 1.57 |
The average rating in the table is based on a scale from 1 to 5 where 1 indicates a Strong Buy and 5 indicates a Strong Sell. Data for this article was provided by Zacks Investment Research via Quandl.com. Stay updated with the latest Zacks research report on WEAV — it’s available for free.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
