Needham & Company LLC Reiterates Buy Rating for WalkMe (NASDAQ:WKME)

WalkMe (NASDAQ:WKME)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They presently have a $20.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 146.61% from the stock’s current price.

A number of other research analysts have also weighed in on WKME. Wells Fargo & Company cut their price target on shares of WalkMe from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley cut their price target on shares of WalkMe from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. KeyCorp started coverage on shares of WalkMe in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. TheStreet raised shares of WalkMe from a “d” rating to a “c-” rating in a research note on Wednesday, February 21st. Finally, Barclays lowered their price objective on shares of WalkMe from $10.00 to $8.50 and set an “underweight” rating on the stock in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, WalkMe has an average rating of “Hold” and an average target price of $13.07.

WalkMe Stock Performance

Shares of WKME stock opened at $8.11 on Monday. The firm’s 50 day moving average price is $8.39 and its two-hundred day moving average price is $9.38. The stock has a market cap of $703.79 million, a PE ratio of -12.10 and a beta of -0.10. WalkMe has a 52-week low of $7.60 and a 52-week high of $11.00.

WalkMe (NASDAQ:WKME) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts predict that WalkMe will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of WalkMe

A number of institutional investors have recently bought and sold shares of WKME. M&T Bank Corp lifted its holdings in shares of WalkMe by 23.4% during the 3rd quarter. M&T Bank Corp now owns 12,997 shares of the company’s stock worth $123,000 after acquiring an additional 2,464 shares during the period. Trexquant Investment LP acquired a new position in WalkMe in the 4th quarter valued at approximately $135,000. Jump Financial LLC acquired a new stake in shares of WalkMe during the third quarter worth $142,000. Citigroup Inc. increased its position in shares of WalkMe by 6.5% during the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock worth $228,000 after buying an additional 1,472 shares during the period. Finally, Prosperity Wealth Management Inc. increased its position in shares of WalkMe by 6.9% during the third quarter. Prosperity Wealth Management Inc. now owns 32,110 shares of the company’s stock worth $304,000 after buying an additional 2,060 shares during the period. Institutional investors own 70.91% of the company’s stock.

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.