WalkMe (NASDAQ:WKME) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of WalkMe (NASDAQ:WKME) in a research note published on Monday morning, Benzinga reports. Needham & Company LLC currently has a $20.00 target price on the stock.

Several other brokerages have also issued reports on WKME. Wells Fargo & Company lowered their price target on shares of WalkMe from $14.00 to $12.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. KeyCorp began coverage on shares of WalkMe in a research report on Thursday, March 21st. They set a sector weight rating for the company. Barclays lowered their price target 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. Morgan Stanley decreased their price objective on WalkMe from $12.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Finally, TheStreet raised WalkMe from a d rating to a c- rating in a research note on Wednesday, February 21st. One equities 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.com, WalkMe presently has an average rating of Hold and an average target price of $13.07.

WalkMe Price Performance

WalkMe stock opened at $8.21 on Monday. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $11.00. The firm has a market capitalization of $712.46 million, a price-to-earnings ratio of -12.25 and a beta of -0.10. The company’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $9.36.

WalkMe (NASDAQ:WKME) last posted its earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $67.89 million for the quarter, compared to analyst estimates of $67.23 million. As a group, analysts predict that WalkMe will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On WalkMe

Several hedge funds have recently made changes to their positions in WKME. M&T Bank Corp increased its position in shares of WalkMe by 23.4% during the third quarter. M&T Bank Corp now owns 12,997 shares of the company’s stock valued at $123,000 after buying an additional 2,464 shares during the period. Jump Financial LLC bought a new stake in shares of WalkMe in the 3rd quarter worth approximately $142,000. Prosperity Wealth Management Inc. lifted 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 acquiring an additional 2,060 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of WalkMe during the third quarter valued at approximately $884,000. Finally, B. Riley Asset Management LLC grew its holdings in WalkMe by 9.0% in the 3rd quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock worth $12,500,000 after acquiring an additional 108,798 shares during the last quarter. 70.91% of the stock is currently owned by hedge funds and other 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.