WalkMe (NASDAQ:WKME) Price Target Cut to $8.50 by Analysts at Barclays

WalkMe (NASDAQ:WKME) had its price objective lowered by Barclays from $10.00 to $8.50 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities research analysts have also issued reports about the stock. TheStreet upgraded shares of WalkMe from a d rating to a c- rating in a research report on Wednesday, February 21st. Wells Fargo & Company lifted their price objective on shares of WalkMe from $12.00 to $14.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Needham & Company LLC reissued a buy rating and issued a $20.00 target price on shares of WalkMe in a research note on Thursday, February 22nd. Finally, KeyCorp started coverage on WalkMe in a research report on Thursday, March 21st. They set a sector weight rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $13.36.

WalkMe Stock Performance

WalkMe stock opened at $7.99 on Monday. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $11.19. The stock has a market cap of $693.37 million, a P/E ratio of -11.93 and a beta of -0.14. The firm’s fifty day moving average price is $8.88 and its 200-day moving average price is $9.44.

WalkMe (NASDAQ:WKME) last announced its earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share for the quarter, topping 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%. Sell-side analysts predict that WalkMe will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. EVR Research LP bought a new stake in WalkMe during the 1st quarter valued at $11,368,000. Scalar Gauge Management LLC bought a new position in shares of WalkMe during the fourth quarter valued at about $6,083,000. B. Riley Asset Management LLC boosted its holdings in shares of WalkMe by 121.8% during the fourth quarter. B. Riley Asset Management LLC now owns 750,165 shares of the company’s stock worth $8,387,000 after purchasing an additional 411,907 shares during the period. Clearbridge Investments LLC grew its stake in shares of WalkMe by 46.9% in the first quarter. Clearbridge Investments LLC now owns 854,884 shares of the company’s stock worth $12,900,000 after purchasing an additional 272,756 shares during the last quarter. Finally, FMR LLC increased its holdings in WalkMe by 30.3% during the 2nd quarter. FMR LLC now owns 1,089,750 shares of the company’s stock valued at $11,039,000 after purchasing an additional 253,575 shares during the period. 70.91% of the stock is owned by institutional investors.

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.