Needham & Company LLC Reiterates “Buy” Rating for WalkMe (NASDAQ:WKME)

WalkMe (NASDAQ:WKME)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $20.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 140.67% from the stock’s previous close.

A number of other equities research analysts also recently commented on WKME. Wells Fargo & Company dropped their price objective on WalkMe from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. TheStreet raised WalkMe from a “d” rating to a “c-” rating in a research note on Wednesday, February 21st. Barclays decreased 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. KeyCorp started coverage on shares of WalkMe in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Morgan Stanley reduced 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.07.

WalkMe Trading Up 1.2 %

Shares of NASDAQ WKME opened at $8.31 on Monday. WalkMe has a 1 year low of $7.60 and a 1 year high of $11.00. The firm’s 50-day moving average is $8.37 and its 200-day moving average is $9.38. The firm has a market capitalization of $721.14 million, a PE ratio of -12.34 and a beta of -0.10.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The firm had revenue of $67.89 million for the quarter, compared to analysts’ expectations 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 anticipate that WalkMe will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WalkMe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WKME. M&T Bank Corp grew its holdings 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 valued at $123,000 after acquiring an additional 2,464 shares in the last quarter. Trexquant Investment LP acquired a new stake in WalkMe during the fourth quarter worth approximately $135,000. Jump Financial LLC acquired a new position in WalkMe in the third quarter valued at about $142,000. Citigroup Inc. lifted its holdings in shares of WalkMe by 6.5% during the 3rd quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock worth $228,000 after acquiring an additional 1,472 shares during the period. Finally, Prosperity Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 2,060 shares during the last quarter. 70.91% of the stock is currently owned by institutional investors and hedge funds.

About WalkMe

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.