WalkMe (NASDAQ:WKME) Price Target Cut to $11.00

WalkMe (NASDAQ:WKME) had its price target reduced by investment analysts at Morgan Stanley from $12.00 to $11.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 40.66% from the company’s current price.

Several other research firms have also commented on WKME. TheStreet raised shares of WalkMe from a “d” rating to a “c-” rating in a research note on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of WalkMe in a research report on Thursday, February 22nd. Wells Fargo & Company lifted their target price on WalkMe from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Barclays decreased their target price on WalkMe from $10.00 to $8.50 and set an “underweight” rating for the company in a research report on Monday. Finally, KeyCorp assumed coverage on WalkMe in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, WalkMe presently has a consensus rating of “Hold” and an average price target of $13.36.

WalkMe Trading Up 1.4 %

Shares of WKME stock traded up $0.11 on Wednesday, reaching $7.82. The company’s stock had a trading volume of 91,370 shares, compared to its average volume of 80,707. The stock’s fifty day simple moving average is $8.98 and its 200-day simple moving average is $9.46. WalkMe has a 1 year low of $7.60 and a 1 year high of $11.44. The company has a market capitalization of $678.62 million, a price-to-earnings ratio of -11.61 and a beta of -0.14.

WalkMe (NASDAQ:WKME) last posted its earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. WalkMe had a negative net margin of 22.15% and a negative return on equity of 71.73%. The firm had revenue of $67.89 million during the quarter, compared to analyst estimates of $67.23 million. Equities research analysts forecast that WalkMe will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On WalkMe

Large investors have recently bought and sold shares of the company. Quadrature Capital Ltd lifted its holdings in WalkMe by 203.9% in the fourth quarter. Quadrature Capital Ltd now owns 59,862 shares of the company’s stock valued at $637,000 after acquiring an additional 40,161 shares during the period. Virtu Financial LLC acquired a new position in WalkMe in the fourth quarter valued at approximately $114,000. GSA Capital Partners LLP lifted its holdings in WalkMe by 310.1% in the fourth quarter. GSA Capital Partners LLP now owns 79,323 shares of the company’s stock valued at $846,000 after acquiring an additional 59,979 shares during the period. Nuveen Asset Management LLC acquired a new position in WalkMe in the fourth quarter valued at approximately $1,405,000. Finally, Occudo Quantitative Strategies LP acquired a new position in WalkMe in the fourth quarter valued at approximately $195,000. Hedge funds and other institutional investors own 70.91% of the company’s stock.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.