WalkMe (NASDAQ:WKME) Given New $12.00 Price Target at Wells Fargo & Company

WalkMe (NASDAQ:WKME) had its target price reduced by Wells Fargo & Company from $14.00 to $12.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

WKME has been the topic of several other reports. Needham & Company LLC reiterated a buy rating and issued a $20.00 price target on shares of WalkMe in a report on Thursday, February 22nd. 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. TheStreet upgraded shares of WalkMe from a d rating to a c- rating in a report on Wednesday, February 21st. Barclays decreased their price objective on shares of WalkMe from $10.00 to $8.50 and set an underweight rating for the company in a report on Monday, April 15th. Finally, KeyCorp began coverage on shares of WalkMe in a research note on Thursday, March 21st. They issued a sector weight rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, WalkMe has a consensus rating of Hold and a consensus target price of $13.07.

WalkMe Stock Up 4.1 %

Shares of WKME opened at $8.11 on Friday. The business has a fifty day moving average of $8.39 and a 200 day moving average of $9.38. The company 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 released its 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 analyst estimates 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, research analysts anticipate that WalkMe will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its holdings in WalkMe by 6.5% during the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock valued at $228,000 after buying an additional 1,472 shares during the period. Prosperity Wealth Management Inc. increased its holdings in shares of WalkMe by 6.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 32,110 shares of the company’s stock valued at $304,000 after acquiring an additional 2,060 shares during the period. M&T Bank Corp raised its position in shares of WalkMe by 23.4% in 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 in the last quarter. Trexquant Investment LP purchased a new stake in shares of WalkMe during the 4th quarter worth $135,000. Finally, Jump Financial LLC bought a new stake in WalkMe during the third quarter valued at about $142,000. Hedge funds and other 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.