WalkMe (NASDAQ:WKME) Shares Down 7%

Posted by on Mar 12th, 2023

Shares of WalkMe Ltd. (NASDAQ:WKME – Get Rating) were down 7% during mid-day trading on Friday . The stock traded as low as $9.30 and last traded at $9.30. Approximately 30,904 shares traded hands during trading, a decline of 65% from the average daily volume of 87,466 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WKME shares. Wells Fargo & Company raised their price objective on shares of WalkMe from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. BMO Capital Markets raised their price objective on shares of WalkMe from $10.50 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of WalkMe in a research report on Thursday, February 16th. The Goldman Sachs Group cut their price objective on shares of WalkMe from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 16th. Finally, Morgan Stanley dropped their price target on shares of WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, WalkMe currently has an average rating of “Moderate Buy” and an average price target of $13.75.

WalkMe Price Performance

The business’s 50-day moving average price is $10.34 and its two-hundred day moving average price is $9.58.

WalkMe (NASDAQ:WKME – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02. The business had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $63.75 million. WalkMe had a negative net margin of 37.81% and a negative return on equity of 105.46%. Analysts predict that WalkMe Ltd. will post -0.69 EPS for the current year.

Institutional Trading of WalkMe

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of WalkMe during the first quarter worth $25,000. Lazard Asset Management LLC acquired a new position in WalkMe in the third quarter valued at $39,000. Altshuler Shaham Ltd acquired a new position in WalkMe in the third quarter valued at $43,000. HighTower Advisors LLC acquired a new position in WalkMe in the first quarter valued at $170,000. Finally, Trexquant Investment LP acquired a new position in WalkMe in the third quarter valued at $111,000. Institutional investors own 61.04% of the company’s stock.

About WalkMe

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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.

Further Reading

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