WalkMe (NASDAQ:WKME) Sets New 12-Month Low on Analyst Downgrade

WalkMe Ltd. (NASDAQ:WKME - Get Free Report)'s share price hit a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $10.00 to $8.50. Barclays currently has an underweight rating on the stock. WalkMe traded as low as $7.75 and last traded at $7.75, with a volume of 23557 shares changing hands. The stock had previously closed at $7.93.

A number of other research firms have also weighed in on WKME. TheStreet raised WalkMe from a "d" rating to a "c-" rating in a research note on Wednesday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of WalkMe in a research note on Thursday, February 22nd. KeyCorp began coverage on shares of WalkMe in a research note on Thursday, March 21st. They issued a "sector weight" rating on the stock. Finally, Wells Fargo & Company increased their price target on shares of WalkMe from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.75.

Institutional Trading of WalkMe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in shares of WalkMe by 6.5% during the third quarter. Citigroup Inc. now owns 24,060 shares of the company's stock valued at $228,000 after buying an additional 1,472 shares during the period. Corton Capital Inc. grew its holdings in shares of WalkMe by 114.1% during the 3rd quarter. Corton Capital Inc. now owns 39,851 shares of the company's stock worth $378,000 after acquiring an additional 21,236 shares during the period. Acadian Asset Management LLC bought a new position in shares of WalkMe in the 3rd quarter worth approximately $884,000. M&T Bank Corp lifted its stake 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 purchasing an additional 2,464 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of WalkMe during the third quarter valued at approximately $142,000. Hedge funds and other institutional investors own 70.91% of the company's stock.

WalkMe Price Performance

The company has a 50 day moving average of $9.03 and a two-hundred day moving average of $9.48. The company has a market capitalization of $676.02 million, a PE ratio of -11.63 and a beta of -0.13.

WalkMe (NASDAQ:WKME - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share for the quarter, topping 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 firm had revenue of $67.89 million for the quarter, compared to the consensus estimate of $67.23 million. On average, equities analysts anticipate that WalkMe Ltd. will post -0.43 EPS for the current year.

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.