WalkMe (NASDAQ:WKME) Price Target Lowered to $11.00 at Morgan Stanley

WalkMe (NASDAQ:WKME - Free Report) had its target price lowered by Morgan Stanley from $12.00 to $11.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

WKME has been the subject of several other research reports. KeyCorp started coverage on WalkMe in a research note on Thursday, March 21st. They set a sector weight rating for the company. Barclays decreased their target price on WalkMe from $10.00 to $8.50 and set an underweight rating for the company in a research note on Monday. TheStreet raised WalkMe from a d rating to a c- rating in a research note on Wednesday, February 21st. Needham & Company LLC reaffirmed a buy rating and set a $20.00 target price on shares of WalkMe in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company raised their target price on WalkMe from $12.00 to $14.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $13.36.

WalkMe Stock Up 1.4 %

NASDAQ WKME traded up $0.11 during trading hours on Wednesday, hitting $7.82. The company had a trading volume of 91,370 shares, compared to its average volume of 80,800. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $11.44. The firm has a market cap of $678.62 million, a P/E ratio of -11.67 and a beta of -0.14. The business has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $9.45.

WalkMe (NASDAQ:WKME - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.08) earnings per share (EPS) 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 company had revenue of $67.89 million during the quarter, compared to analysts' expectations of $67.23 million. Equities analysts forecast that WalkMe will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On WalkMe

Hedge funds have recently bought and sold shares of the business. EVR Research LP purchased a new stake in shares of WalkMe during the 1st quarter worth about $11,368,000. Scalar Gauge Management LLC purchased a new stake in shares of WalkMe during the 4th quarter worth about $6,083,000. B. Riley Asset Management LLC raised its stake in shares of WalkMe by 121.8% during the 4th quarter. B. Riley Asset Management LLC now owns 750,165 shares of the company's stock worth $8,387,000 after purchasing an additional 411,907 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of WalkMe by 46.9% during the 1st quarter. Clearbridge Investments LLC now owns 854,884 shares of the company's stock worth $12,900,000 after purchasing an additional 272,756 shares in the last quarter. Finally, FMR LLC raised its stake in shares of WalkMe by 30.3% during the 2nd quarter. FMR LLC now owns 1,089,750 shares of the company's stock worth $11,039,000 after purchasing an additional 253,575 shares in the last quarter. 70.91% of the stock is owned by hedge funds and other 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.