WalkMe (NASDAQ:WKME) PT Lowered to $12.00 at Wells Fargo & Company

WalkMe (NASDAQ:WKME) had its target price lowered by Wells Fargo & Company from $14.00 to $12.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on WKME. Barclays decreased their price objective on shares of WalkMe from $10.00 to $8.50 and set an underweight rating on the stock in a research note on Monday, April 15th. TheStreet upgraded WalkMe from a d rating to a c- rating in a report on Wednesday, February 21st. Morgan Stanley cut their price target on WalkMe from $12.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. KeyCorp initiated coverage on shares of WalkMe in a report on Thursday, March 21st. They set a sector weight rating on the stock. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $20.00 target price on shares of WalkMe in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $13.07.

WalkMe Trading Up 4.1 %

WKME stock opened at $8.11 on Friday. WalkMe has a 1-year low of $7.60 and a 1-year high of $11.00. The business’s 50 day moving average is $8.39 and its 200-day moving average is $9.38. The firm has a market cap of $703.79 million, a P/E ratio of -12.10 and a beta of -0.10.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. WalkMe had a negative return on equity of 71.73% and a negative net margin of 22.15%. The business had revenue of $67.89 million for the quarter, compared to analyst estimates of $67.23 million. Sell-side analysts forecast that WalkMe will post -0.43 EPS for the current year.

Hedge Funds Weigh In On WalkMe

Several large investors have recently bought and sold shares of the business. Scalar Gauge Management LLC acquired a new stake in shares of WalkMe during the fourth quarter worth $6,083,000. Horrell Capital Management Inc. grew its position in shares of WalkMe by 231.4% during the 1st quarter. Horrell Capital Management Inc. now owns 303,459 shares of the company’s stock worth $2,610,000 after buying an additional 211,900 shares during the period. B. Riley Asset Management LLC increased its stake in shares of WalkMe by 9.0% in the 3rd quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock valued at $12,500,000 after acquiring an additional 108,798 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of WalkMe in the 3rd quarter valued at approximately $884,000. Finally, Circumference Group LLC bought a new position in WalkMe during the 4th quarter worth approximately $977,000. 70.91% of the stock is currently owned by institutional investors and hedge funds.

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.