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

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

Several other research firms have also weighed in on WKME. Barclays cut their target price on WalkMe from $10.00 to $8.50 and set an underweight rating on the stock in a report on Monday, April 15th. KeyCorp initiated coverage on WalkMe in a research report on Thursday, March 21st. They set a sector weight rating for the company. Morgan Stanley dropped 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. Wells Fargo & Company decreased their price objective on shares of WalkMe from $14.00 to $12.00 and set an overweight rating for the company in a report on Friday, May 3rd. Finally, TheStreet upgraded shares of WalkMe from a d rating to a c- rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $13.07.

WalkMe Price Performance

Shares of WalkMe stock opened at $8.10 on Monday. The stock has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $9.38. WalkMe has a 52-week low of $7.60 and a 52-week high of $11.00. The firm has a market cap of $702.92 million, a price-to-earnings ratio of -12.27 and a beta of -0.10.

WalkMe (NASDAQ:WKME) last posted its earnings results on Wednesday, February 21st. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $67.89 million during the quarter, compared to the consensus estimate 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, equities research analysts predict that WalkMe will post -0.43 earnings per share for the current year.

Institutional Trading of WalkMe

A number of hedge funds have recently bought and sold shares of WKME. Citigroup Inc. raised 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 valued at $228,000 after buying an additional 1,472 shares during the last quarter. Prosperity Wealth Management Inc. raised its holdings in 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 in the last quarter. M&T Bank Corp lifted 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 during the period. Trexquant Investment LP acquired a new stake in shares of WalkMe during the 4th quarter worth approximately $135,000. Finally, Jump Financial LLC bought a new stake in shares of WalkMe during the third quarter valued at approximately $142,000. 70.91% of the stock is 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.