WalkMe (NASDAQ:WKME) Stock Price Down 4%

WalkMe Ltd. (NASDAQ:WKME) fell 4% during trading on Monday . The stock traded as low as $9.78 and last traded at $9.78. 71,718 shares changed hands during trading, a decline of 23% from the average session volume of 92,981 shares. The stock had previously closed at $10.19.

Analysts Set New Price Targets

Several analysts recently issued reports on WKME shares. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of WalkMe in a report on Thursday, October 26th. JMP Securities restated a “market outperform” rating and issued a $19.00 price objective on shares of WalkMe in a report on Wednesday, November 15th. Finally, BMO Capital Markets boosted their price objective on shares of WalkMe from $9.50 to $11.00 and gave the company a “market perform” rating in a report on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WalkMe has an average rating of “Moderate Buy” and a consensus price target of $13.29.

WalkMe Stock Performance

The firm has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $9.13. The company has a market capitalization of $807.49 million, a price-to-earnings ratio of -12.74 and a beta of -0.24.

Institutional Investors Weigh In On WalkMe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WKME. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of WalkMe by 46.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,554 shares of the company’s stock worth $38,000 after purchasing an additional 1,125 shares during the last quarter. Citigroup Inc. raised its stake in shares of WalkMe by 6.3% during the second quarter. Citigroup Inc. now owns 22,588 shares of the company’s stock worth $217,000 after purchasing an additional 1,347 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of WalkMe during the first quarter worth approximately $25,000. Renaissance Technologies LLC raised its stake in shares of WalkMe by 14.0% during the fourth quarter. Renaissance Technologies LLC now owns 13,800 shares of the company’s stock worth $154,000 after purchasing an additional 1,700 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of WalkMe by 8.6% during the second quarter. LPL Financial LLC now owns 21,975 shares of the company’s stock worth $211,000 after purchasing an additional 1,746 shares during the last quarter.

WalkMe Company Profile

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.