WalkMe (NASDAQ:WKME) Releases Quarterly Earnings Results

WalkMe (NASDAQ:WKMEGet Rating) announced its earnings results on Monday. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01, MarketWatch Earnings reports. WalkMe had a negative return on equity of 50.71% and a negative net margin of 49.57%. The company had revenue of $56.85 million for the quarter, compared to the consensus estimate of $56.10 million. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. WalkMe updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NASDAQ WKME traded up $0.25 during trading on Wednesday, reaching $8.25. The company had a trading volume of 1,595 shares, compared to its average volume of 192,244. WalkMe has a twelve month low of $7.72 and a twelve month high of $34.42. The stock has a 50-day moving average price of $14.44 and a two-hundred day moving average price of $16.68.

Several brokerages have weighed in on WKME. Wells Fargo & Company lowered their target price on WalkMe from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. Needham & Company LLC lowered their target price on WalkMe from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup lifted their target price on WalkMe from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, February 17th. Barclays decreased their price target on WalkMe from $23.00 to $15.00 in a research note on Wednesday. Finally, BMO Capital Markets decreased their price target on WalkMe from $19.00 to $14.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.90.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in WalkMe by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 65,186 shares of the company’s stock valued at $1,279,000 after purchasing an additional 4,664 shares during the last quarter. Royal Bank of Canada increased its stake in WalkMe by 29.5% in the first quarter. Royal Bank of Canada now owns 69,624 shares of the company’s stock valued at $1,051,000 after purchasing an additional 15,877 shares during the last quarter. Wells Fargo & Company MN increased its stake in WalkMe by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 47,017 shares of the company’s stock valued at $923,000 after purchasing an additional 13,852 shares during the last quarter. Marshall Wace LLP acquired a new position in WalkMe in the fourth quarter valued at $886,000. Finally, Bank of America Corp DE acquired a new position in WalkMe in the second quarter valued at $736,000. 85.45% of the stock is owned by institutional investors.

About WalkMe (Get Rating)

WalkMe Ltd. provides cloud-based digital adoption platform in the United States and internationally. Its digital adoption platform enables organizations to measure, drive, and act to maximize the impact of their digital transformation and accelerate the return on their software investment. The company was formerly known as Make Tutorial Ltd.

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