WalkMe (NASDAQ:WKME) Price Target Cut to $8.50

WalkMe (NASDAQ:WKME) had its price objective cut by research analysts at Barclays from $10.00 to $8.50 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 10.25% from the company’s previous close.

WKME has been the subject of a number of other reports. KeyCorp assumed coverage on shares of WalkMe in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. TheStreet raised shares of WalkMe from a “d” rating to a “c-” rating in a report on Wednesday, February 21st. Wells Fargo & Company increased their target price on shares of WalkMe from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of WalkMe in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.75.

WalkMe Stock Down 1.0 %

NASDAQ WKME opened at $7.71 on Monday. The stock has a market capitalization of $669.07 million, a P/E ratio of -11.51 and a beta of -0.13. WalkMe has a 52-week low of $7.60 and a 52-week high of $11.44. The firm has a 50-day moving average price of $8.98 and a 200 day moving average price of $9.46.

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

Institutional Trading of WalkMe

A number of hedge funds have recently bought and sold shares of the company. B. Riley Asset Management LLC boosted its position in WalkMe by 9.0% during the third quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock worth $12,500,000 after acquiring an additional 108,798 shares during the last quarter. FMR LLC boosted its position in WalkMe by 1.5% during the first quarter. FMR LLC now owns 1,102,087 shares of the company’s stock worth $11,726,000 after acquiring an additional 16,760 shares during the last quarter. Clearbridge Investments LLC boosted its position in WalkMe by 46.9% during the first quarter. Clearbridge Investments LLC now owns 854,884 shares of the company’s stock worth $12,900,000 after acquiring an additional 272,756 shares during the last quarter. EVR Research LP acquired a new stake in WalkMe during the first quarter worth approximately $11,368,000. Finally, Scalar Gauge Management LLC acquired a new stake in WalkMe during the fourth quarter worth approximately $6,083,000. Institutional investors and hedge funds own 70.91% of the company’s stock.

WalkMe Company Profile

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.