WalkMe (NASDAQ:WKME) Price Target Lowered to $20.00 at Needham & Company LLC

WalkMe (NASDAQ:WKMEGet Rating) had its price objective decreased by equities research analysts at Needham & Company LLC from $40.00 to $20.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Needham & Company LLC’s price target would indicate a potential upside of 63.93% from the company’s previous close.

WKME has been the topic of several other research reports. Zacks Investment Research raised WalkMe from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. The Goldman Sachs Group started coverage on shares of WalkMe in a research note on Wednesday, April 27th. They issued a “buy” rating and a $23.00 price objective for the company. Citigroup boosted their target price on WalkMe from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, February 17th. KeyCorp dropped their price objective on WalkMe from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Finally, BMO Capital Markets reduced their target price on WalkMe from $29.00 to $19.00 in a research note on Thursday, February 17th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.90.

Shares of WKME stock opened at $12.20 on Tuesday. WalkMe has a 12-month low of $11.40 and a 12-month high of $34.42. The stock’s 50-day moving average price is $14.54 and its 200-day moving average price is $16.74.

WalkMe (NASDAQ:WKMEGet Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.04. The company had revenue of $56.85 million for the quarter, compared to analysts’ expectations of $56.10 million. WalkMe had a negative net margin of 49.57% and a negative return on equity of 50.71%. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, analysts predict that WalkMe will post -1.06 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. StepStone Group LP acquired a new stake in WalkMe in the 3rd quarter worth approximately $308,414,000. Allspring Global Investments Holdings LLC purchased a new position in shares of WalkMe in the fourth quarter worth about $19,046,000. EDBI Pte Ltd acquired a new position in shares of WalkMe in the 4th quarter valued at about $14,955,000. EVR Research LP purchased a new stake in shares of WalkMe in the first quarter worth about $11,368,000. Finally, Vitruvian Partners LLP grew its holdings in WalkMe by 6.1% during the first quarter. Vitruvian Partners LLP now owns 5,921,122 shares of the company’s stock worth $89,350,000 after acquiring an additional 339,296 shares during the period. Hedge funds and other institutional investors own 85.45% of the company’s stock.

About WalkMe (Get Rating)

WalkMe Ltd. provides cloud-based digital adoption platform in the United States and internationally. Its digital adoption platform enables organizations to measure, drive, and act to maximize the impact of their digital transformation and accelerate the return on their software investment. The company was formerly known as Make Tutorial Ltd.

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