WalkMe (NASDAQ:WKME) Coverage Initiated by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of WalkMe (NASDAQ:WKMEGet Rating) in a research note issued on Tuesday, The Fly reports. The firm set an “equal weight” rating and a $13.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 38.30% from the stock’s current price.

Several other research firms have also recently weighed in on WKME. Wells Fargo & Company cut their price objective on WalkMe from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 24th. Citigroup increased their target price on WalkMe from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. BMO Capital Markets began coverage on shares of WalkMe in a report on Thursday, May 26th. They set a “buy” rating and a $10.00 target price on the stock. The Goldman Sachs Group cut their price target on WalkMe from $23.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. Finally, KeyCorp dropped their target price on WalkMe from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $20.90.

NASDAQ WKME traded down $0.27 during trading hours on Tuesday, hitting $9.40. The company had a trading volume of 1,716 shares, compared to its average volume of 283,763. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $34.42. The firm’s 50 day moving average is $13.52 and its 200 day moving average is $15.73. The company has a market capitalization of $776.91 million and a price-to-earnings ratio of -5.39.

WalkMe (NASDAQ:WKMEGet Rating) last released its earnings results on Monday, May 23rd. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. WalkMe had a negative net margin of 45.72% and a negative return on equity of 33.65%. The business had revenue of $56.85 million for the quarter, compared to the consensus estimate of $56.10 million. The firm’s revenue was up 33.3% compared to the same quarter last year. As a group, equities analysts predict that WalkMe will post -1.14 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Insight Holdings Group LLC raised its holdings in shares of WalkMe by 0.8% during the 4th quarter. Insight Holdings Group LLC now owns 24,453,823 shares of the company’s stock valued at $476,103,000 after buying an additional 200,000 shares in the last quarter. Vitruvian Partners LLP increased its stake in shares of WalkMe by 6.1% during the first quarter. Vitruvian Partners LLP now owns 5,921,122 shares of the company’s stock valued at $89,350,000 after buying an additional 339,296 shares during the period. Allspring Global Investments Holdings LLC bought a new position in WalkMe in the 4th quarter worth $19,046,000. Clearbridge Investments LLC boosted its position in WalkMe by 46.9% during the 1st quarter. Clearbridge Investments LLC now owns 854,884 shares of the company’s stock valued at $12,900,000 after acquiring an additional 272,756 shares in the last quarter. Finally, EDBI Pte Ltd purchased a new position in WalkMe during the fourth quarter valued at $14,955,000. 85.45% of the stock is currently owned by hedge funds and other 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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