WalkMe (NASDAQ:WKME) Sees Strong Trading Volume

WalkMe Ltd. (NASDAQ:WKME) saw strong trading volume on Wednesday . 372,245 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 411,944 shares.The stock last traded at $13.90 and had previously closed at $13.88.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WKME shares. Barclays dropped their target price on shares of WalkMe from $8.50 to $8.00 and set an “underweight” rating for the company in a report on Thursday, May 23rd. Citigroup dropped their price objective on WalkMe from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets decreased their target price on WalkMe from $11.50 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley dropped 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 cut their price target on WalkMe from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.86.

WalkMe Trading Up 0.1 %

The company has a 50 day simple moving average of $10.59 and a 200 day simple moving average of $9.85. The stock has a market capitalization of $1.21 billion, a PE ratio of -31.55 and a beta of 0.15.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.06. WalkMe had a negative net margin of 14.52% and a negative return on equity of 43.53%. The company had revenue of $68.57 million for the quarter, compared to analysts’ expectations of $68.10 million.

Hedge Funds Weigh In On WalkMe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scalar Gauge Management LLC acquired a new stake in shares of WalkMe in the fourth quarter valued at about $6,083,000. Horrell Capital Management Inc. lifted 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 valued at $2,610,000 after acquiring an additional 211,900 shares during the period. Acadian Asset Management LLC boosted its stake in shares of WalkMe by 74.2% during the 1st quarter. Acadian Asset Management LLC now owns 256,431 shares of the company’s stock worth $2,190,000 after acquiring an additional 109,187 shares in the last quarter. Circumference Group LLC purchased a new stake in shares of WalkMe during the 4th quarter worth approximately $977,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of WalkMe by 22.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 339,437 shares of the company’s stock worth $2,919,000 after acquiring an additional 62,676 shares during the period. Institutional investors and hedge funds 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.