WalkMe (NASDAQ:WKME) Stock Price Down 3.3%

WalkMe Ltd. (NASDAQ:WKME) shares traded down 3.3% during trading on Wednesday . The company traded as low as $9.46 and last traded at $9.46. 5,951 shares changed hands during trading, a decline of 94% from the average session volume of 96,113 shares. The stock had previously closed at $9.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of WalkMe in a research report on Friday, August 11th. Citigroup cut their target price on shares of WalkMe from $12.00 to $10.00 in a research report on Thursday, May 18th. BMO Capital Markets cut their target price on shares of WalkMe from $10.50 to $9.50 and set a “market perform” rating for the company in a research report on Monday, August 14th. Barclays cut their target price on shares of WalkMe from $10.00 to $9.00 in a research report on Wednesday, July 19th. Finally, 51job reiterated a “maintains” rating on shares of WalkMe in a research report on Thursday, May 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.07.

WalkMe Price Performance

The firm’s 50 day simple moving average is $9.12 and its two-hundred day simple moving average is $9.51.

WalkMe (NASDAQ:WKME) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $66.20 million during the quarter, compared to the consensus estimate of $65.72 million. WalkMe had a negative net margin of 31.29% and a negative return on equity of 115.55%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. On average, equities analysts anticipate that WalkMe Ltd. will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On WalkMe

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in shares of WalkMe during the second quarter valued at about $229,000. Orion Portfolio Solutions LLC bought a new position in shares of WalkMe during the second quarter valued at about $228,000. Goldman Sachs Group Inc. raised its stake in shares of WalkMe by 19.4% during the second quarter. Goldman Sachs Group Inc. now owns 65,845 shares of the company’s stock valued at $632,000 after acquiring an additional 10,681 shares during the last quarter. Potrero Capital Research LLC raised its stake in shares of WalkMe by 95.2% during the second quarter. Potrero Capital Research LLC now owns 334,989 shares of the company’s stock valued at $3,216,000 after acquiring an additional 163,399 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its stake in shares of WalkMe by 55.1% during the second quarter. Boothbay Fund Management LLC now owns 541,778 shares of the company’s stock valued at $5,201,000 after acquiring an additional 192,399 shares during the last quarter.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's digital transformation intelligence provides software stack, actionable insights, and data services. It also provides workflows and applications in the form of UI elements.