Citigroup Lowers WalkMe (NASDAQ:WKME) Price Target to $10.00

WalkMe (NASDAQ:WKME) had its target price lowered by equities research analysts at Citigroup from $11.00 to $10.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 13.77% from the stock’s current price.

Several other equities research analysts also recently issued reports on WKME. TheStreet upgraded shares of WalkMe from a “d” rating to a “c-” rating in a research note on Wednesday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of WalkMe in a research note on Thursday. Barclays lowered their price objective on shares of WalkMe from $8.50 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday. BMO Capital Markets decreased their price target on shares of WalkMe from $11.50 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Morgan Stanley decreased 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 note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.86.

WalkMe Stock Up 3.3 %

Shares of NASDAQ:WKME traded up $0.28 during trading on Thursday, reaching $8.79. The stock had a trading volume of 124,971 shares, compared to its average volume of 93,126. WalkMe has a 52 week low of $7.60 and a 52 week high of $11.00. The firm has a market capitalization of $762.80 million, a price-to-earnings ratio of -13.12 and a beta of -0.10. The stock has a fifty day simple moving average of $8.19 and a two-hundred day simple moving average of $9.31.

WalkMe (NASDAQ:WKME) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $67.23 million. On average, analysts forecast that WalkMe will post -0.43 EPS for the current year.

Institutional Trading of WalkMe

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp grew 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 worth $123,000 after buying an additional 2,464 shares during the period. Trexquant Investment LP acquired a new position in shares of WalkMe in the 4th quarter valued at approximately $135,000. Jump Financial LLC acquired a new position in shares of WalkMe in the 3rd quarter valued at approximately $142,000. California State Teachers Retirement System grew its position in shares of WalkMe by 9.1% in the 1st quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock valued at $224,000 after purchasing an additional 2,166 shares during the period. Finally, Citigroup Inc. grew its position in shares of WalkMe by 6.5% in the 3rd quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock valued at $228,000 after purchasing an additional 1,472 shares during the period. 70.91% of the stock is owned by institutional investors.

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.