WalkMe (NASDAQ:WKME) Stock Price Down 3%

Shares of WalkMe Ltd. (NASDAQ:WKME) fell 3% during trading on Friday . The stock traded as low as $7.67 and last traded at $7.75. 5,745 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 80,274 shares. The stock had previously closed at $7.99.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WKME shares. KeyCorp started coverage on shares of WalkMe in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Wells Fargo & Company upped their price target on shares of WalkMe from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays cut their price target on shares of WalkMe from $10.00 to $8.50 and set an “underweight” rating on the stock in a report on Monday, April 15th. TheStreet upgraded shares of WalkMe from a “d” rating to a “c-” rating in a report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of WalkMe in a report on Thursday, February 22nd. One 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. Based on data from MarketBeat, WalkMe presently has a consensus rating of “Hold” and an average target price of $13.36.

WalkMe Stock Performance

The company’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $9.44. The company has a market capitalization of $682.09 million, a P/E ratio of -11.73 and a beta of -0.14.

WalkMe (NASDAQ:WKME) last issued its earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. WalkMe had a negative net margin of 22.15% and a negative return on equity of 71.73%. The company had revenue of $67.89 million for the quarter, compared to analysts’ expectations of $67.23 million. On average, sell-side analysts predict that WalkMe Ltd. will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new stake in shares of WalkMe during the first quarter valued at about $170,000. Clearbridge Investments LLC lifted 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 valued at $12,900,000 after buying an additional 272,756 shares during the last quarter. EVR Research LP purchased a new stake in shares of WalkMe during the first quarter valued at about $11,368,000. Royal Bank of Canada lifted its position in shares of WalkMe by 29.5% during the first quarter. Royal Bank of Canada now owns 69,624 shares of the company’s stock valued at $1,051,000 after buying an additional 15,877 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of WalkMe during the first quarter valued at about $25,000. 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.