WalkMe’s (WKME) Buy Rating Reaffirmed at Needham & Company LLC

WalkMe (NASDAQ:WKME)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 135.02% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Barclays decreased their price target on WalkMe from $10.00 to $8.50 and set an “underweight” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company cut their price objective on WalkMe from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley cut their price objective on WalkMe from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. TheStreet upgraded WalkMe from a “d” rating to a “c-” rating in a research report on Wednesday, February 21st. Finally, KeyCorp initiated coverage on WalkMe in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WalkMe has an average rating of “Hold” and a consensus target price of $13.58.

WalkMe Trading Up 8.8 %

Shares of NASDAQ WKME opened at $8.51 on Thursday. The stock has a market cap of $738.50 million, a price-to-earnings ratio of -12.70 and a beta of -0.10. WalkMe has a 1-year low of $7.60 and a 1-year high of $11.00. The stock’s 50-day moving average is $8.19 and its 200 day moving average is $9.31.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.08) EPS 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 analysts’ expectations of $67.23 million. WalkMe had a negative return on equity of 71.73% and a negative net margin of 22.15%. On average, analysts forecast that WalkMe will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On WalkMe

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in WalkMe by 6.5% in the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock worth $228,000 after acquiring an additional 1,472 shares in the last quarter. 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 acquiring an additional 2,060 shares in the last quarter. California State Teachers Retirement System boosted its holdings in WalkMe by 9.1% in the first quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock worth $224,000 after acquiring an additional 2,166 shares in the last quarter. M&T Bank Corp raised its stake in shares of WalkMe by 23.4% in the third quarter. M&T Bank Corp now owns 12,997 shares of the company’s stock worth $123,000 after purchasing an additional 2,464 shares during the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of WalkMe by 14.8% in the first quarter. Quadrature Capital Ltd now owns 68,703 shares of the company’s stock worth $589,000 after purchasing an additional 8,841 shares during the last quarter. 70.91% of the stock is currently owned by 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.