WalkMe (NASDAQ:WKME) Stock Rating Reaffirmed by Needham & Company LLC

WalkMe (NASDAQ:WKME)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $20.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 140.67% from the company’s current price.

Several other research firms have also recently issued reports on WKME. Barclays decreased their target price on shares of WalkMe from $10.00 to $8.50 and set an “underweight” rating on the stock in a research report on Monday, April 15th. KeyCorp assumed coverage on WalkMe in a report on Thursday, March 21st. They set a “sector weight” rating for the company. TheStreet raised WalkMe from a “d” rating to a “c-” rating in a research report on Wednesday, February 21st. Morgan Stanley decreased their target price on WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company dropped their target price on WalkMe from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WalkMe presently has a consensus rating of “Hold” and a consensus target price of $13.07.

WalkMe Stock Up 1.2 %

Shares of WKME stock opened at $8.31 on Monday. The stock has a market cap of $721.14 million, a P/E ratio of -12.34 and a beta of -0.10. The business has a fifty day simple moving average of $8.37 and a 200-day simple moving average of $9.38. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $11.00.

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

Hedge Funds Weigh In On WalkMe

Several institutional investors and hedge funds have recently made changes to their positions in WKME. M&T Bank Corp raised its stake in WalkMe by 23.4% during the third quarter. M&T Bank Corp now owns 12,997 shares of the company’s stock valued at $123,000 after buying an additional 2,464 shares in the last quarter. Jump Financial LLC acquired a new position in WalkMe in the third quarter worth $142,000. Prosperity Wealth Management Inc. boosted its holdings in WalkMe by 6.9% in the third quarter. Prosperity Wealth Management Inc. now owns 32,110 shares of the company’s stock worth $304,000 after purchasing an additional 2,060 shares during the period. Acadian Asset Management LLC bought a new stake in WalkMe during the third quarter valued at $884,000. Finally, B. Riley Asset Management LLC raised its holdings in shares of 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 purchasing an additional 108,798 shares during the period. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

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.