Wells Fargo & Company Trims WalkMe (NASDAQ:WKME) Target Price to $12.00

WalkMe (NASDAQ:WKME) had its price target cut by Wells Fargo & Company from $14.00 to $12.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Barclays lowered their target price on WalkMe from $10.00 to $8.50 and set an underweight rating for the company in a report on Monday, April 15th. KeyCorp initiated coverage on WalkMe in a research report on Thursday, March 21st. They issued a sector weight rating on the stock. TheStreet upgraded WalkMe from a d rating to a c- rating in a research report on Wednesday, February 21st. Needham & Company LLC reiterated a buy rating and issued a $20.00 price target on shares of WalkMe in a research report on Thursday, February 22nd. Finally, Morgan Stanley reduced their price target on 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 assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $13.07.

WalkMe Stock Performance

WalkMe stock opened at $8.21 on Friday. WalkMe has a 52 week low of $7.60 and a 52 week high of $11.00. The stock has a market capitalization of $712.46 million, a P/E ratio of -12.25 and a beta of -0.10. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $9.38.

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 analysts’ consensus estimates of ($0.11) by $0.03. WalkMe had a negative return on equity of 71.73% and a negative net margin of 22.15%. The business had revenue of $67.89 million during the quarter, compared to analysts’ expectations of $67.23 million. On average, research analysts forecast that WalkMe will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On WalkMe

Institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP bought a new stake in shares of WalkMe during the 4th quarter valued at about $135,000. M&T Bank Corp boosted its position in shares of WalkMe by 23.4% during the 3rd quarter. M&T Bank Corp now owns 12,997 shares of the company’s stock valued at $123,000 after purchasing an additional 2,464 shares in the last quarter. Jump Financial LLC bought a new stake in shares of WalkMe during the 3rd quarter valued at about $142,000. Citigroup Inc. boosted its holdings in WalkMe by 6.5% in the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock worth $228,000 after acquiring an additional 1,472 shares in the last quarter. Finally, Prosperity Wealth Management Inc. boosted its holdings in WalkMe by 6.9% in the third quarter. Prosperity Wealth Management Inc. now owns 32,110 shares of the company’s stock worth $304,000 after acquiring an additional 2,060 shares in the last quarter. Institutional investors own 70.91% of the company’s stock.

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.