WalkMe (NASDAQ:WKME) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of WalkMe (NASDAQ:WKME) in a research report sent to investors on Monday, Benzinga reports. They currently have a $20.00 price target on the stock.

WKME has been the subject of several other reports. Wells Fargo & Company dropped their price target on WalkMe from $14.00 to $12.00 and set an overweight rating for the company in a report on Friday, May 3rd. KeyCorp started coverage on shares of WalkMe in a research report on Thursday, March 21st. They issued a sector weight rating for the company. Morgan Stanley lowered 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 report on Wednesday, April 17th. Barclays cut 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, TheStreet raised shares of WalkMe from a d rating to a c- rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $13.07.

WalkMe Trading Down 2.5 %

WKME opened at $8.10 on Monday. The stock’s fifty day simple moving average is $8.35 and its 200 day simple moving average is $9.38. WalkMe has a 1-year low of $7.60 and a 1-year high of $11.00. The stock has a market cap of $702.92 million, a PE ratio of -12.27 and a beta of -0.10.

WalkMe (NASDAQ:WKME) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company had revenue of $67.89 million for 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%. Equities analysts forecast that WalkMe will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WKME. B. Riley Asset Management LLC raised its holdings in shares of WalkMe by 9.0% during the 3rd quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock worth $12,500,000 after buying an additional 108,798 shares in the last quarter. Scalar Gauge Management LLC acquired a new position in WalkMe during the fourth quarter worth about $6,083,000. Rice Hall James & Associates LLC lifted its holdings in shares of WalkMe by 22.6% in the first 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 last quarter. Horrell Capital Management Inc. lifted its holdings in shares of WalkMe by 231.4% in the first quarter. Horrell Capital Management Inc. now owns 303,459 shares of the company’s stock worth $2,610,000 after acquiring an additional 211,900 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of WalkMe in the 3rd quarter valued at approximately $884,000. 70.91% of the stock is currently owned by institutional investors and hedge funds.

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.