Wells Fargo & Company Cuts WalkMe (NASDAQ:WKME) Price Target to $18.00

WalkMe (NASDAQ:WKMEGet Rating) had its target price decreased by equities researchers at Wells Fargo & Company from $20.00 to $18.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 102.47% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of WalkMe in a research report on Wednesday, April 27th. They issued a “buy” rating and a $23.00 price target on the stock. Citigroup boosted their price target on shares of WalkMe from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, February 17th. KeyCorp dropped their target price on shares of WalkMe from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. BMO Capital Markets dropped their price objective on shares of WalkMe from $19.00 to $14.00 in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of WalkMe from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.20.

WKME stock traded down $3.31 during mid-day trading on Tuesday, reaching $8.89. 12,254 shares of the company traded hands, compared to its average volume of 181,108. WalkMe has a fifty-two week low of $11.40 and a fifty-two week high of $34.42. The firm’s 50 day moving average price is $14.54 and its 200 day moving average price is $16.74.

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

A number of institutional investors have recently made changes to their positions in WKME. Quantbot Technologies LP acquired a new stake in shares of WalkMe during the 1st quarter worth approximately $25,000. Royal Bank of Canada boosted its stake in WalkMe by 29.5% in the first quarter. Royal Bank of Canada now owns 69,624 shares of the company’s stock valued at $1,051,000 after acquiring an additional 15,877 shares during the last quarter. EVR Research LP bought a new position in WalkMe in the first quarter valued at approximately $11,368,000. Clearbridge Investments LLC boosted its position in shares of WalkMe by 46.9% during the first quarter. Clearbridge Investments LLC now owns 854,884 shares of the company’s stock worth $12,900,000 after purchasing an additional 272,756 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of WalkMe during the first quarter worth $170,000. 85.45% of the stock is owned by hedge funds and other institutional investors.

WalkMe Company Profile (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.

Read More

Stock Target Advisor logo

Analyst Recommendations for WalkMe (NASDAQ:WKME)

Receive News & Ratings for WalkMe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WalkMe and related companies with MarketBeat.com's FREE daily email newsletter.