WalkMe (NASDAQ:WKME) Shares Gap Down to $8.60

Shares of WalkMe Ltd. (NASDAQ:WKME - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $8.60, but opened at $8.34. WalkMe shares last traded at $8.34, with a volume of 8,356 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WKME. Barclays lowered shares of WalkMe from an "equal weight" rating to an "underweight" rating and set a $10.00 target price on the stock. in a research report on Friday, January 12th. Wells Fargo & Company boosted their target price on shares of WalkMe from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of WalkMe in a research note on Thursday, February 22nd. KeyCorp initiated coverage on shares of WalkMe in a research note on Thursday, March 21st. They set a "sector weight" rating on the stock. Finally, TheStreet upgraded shares of WalkMe from a "d" rating to a "c-" rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $14.00.

WalkMe Stock Performance

The company's 50 day moving average price is $9.53 and its 200 day moving average price is $9.50. The company has a market cap of $726.35 million, a price-to-earnings ratio of -12.49 and a beta of -0.13.

WalkMe (NASDAQ:WKME - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $67.23 million. As a group, analysts predict that WalkMe Ltd. will post -0.43 EPS for the current year.

Institutional Investors Weigh In On WalkMe

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. boosted its stake 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 in the last quarter. Corton Capital Inc. raised its holdings in shares of WalkMe by 114.1% in the third quarter. Corton Capital Inc. now owns 39,851 shares of the company's stock valued at $378,000 after buying an additional 21,236 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of WalkMe in the third quarter valued at about $884,000. M&T Bank Corp raised its holdings in shares of WalkMe by 23.4% in 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 last quarter. Finally, Jump Financial LLC bought a new position in shares of WalkMe in the third quarter valued at about $142,000. Institutional investors and hedge funds 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.