Needham & Company LLC Reaffirms Buy Rating for WalkMe (NASDAQ:WKME)

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

A number of other brokerages also recently weighed in on WKME. Morgan Stanley lowered their price target on WalkMe from $12.00 to $11.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on WalkMe from $14.00 to $12.00 and set an overweight rating on the stock in a report on Friday. KeyCorp began coverage on WalkMe in a report on Thursday, March 21st. They set a sector weight rating on the stock. TheStreet upgraded WalkMe from a d rating to a c- rating in a research note on Wednesday, February 21st. Finally, Barclays lowered their target price on WalkMe from $10.00 to $8.50 and set an underweight rating on the stock in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, WalkMe presently has a consensus rating of Hold and an average target price of $13.07.

WalkMe Price Performance

Shares of WKME traded up $0.10 during midday trading on Monday, reaching $8.21. The stock had a trading volume of 103,569 shares, compared to its average volume of 85,628. WalkMe has a 52 week low of $7.60 and a 52 week high of $11.00. The firm's 50 day moving average price is $8.39 and its 200-day moving average price is $9.38. The company has a market capitalization of $712.46 million, a P/E ratio of -12.25 and a beta of -0.10.

WalkMe (NASDAQ:WKME - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. The company had revenue of $67.89 million for the quarter, compared to the consensus estimate of $67.23 million. WalkMe had a negative return on equity of 71.73% and a negative net margin of 22.15%. On average, equities analysts forecast that WalkMe will post -0.43 earnings per share for the current year.

Institutional Trading of WalkMe

A number of institutional investors and hedge funds have recently made changes to their positions in WKME. Citigroup Inc. lifted its position in shares of WalkMe by 6.5% during the 3rd quarter. Citigroup Inc. now owns 24,060 shares of the company's stock worth $228,000 after purchasing an additional 1,472 shares during the last quarter. Prosperity Wealth Management Inc. raised its holdings in 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 in the last quarter. M&T Bank Corp raised its holdings in 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 acquiring an additional 2,464 shares in the last quarter. Trexquant Investment LP acquired a new position in WalkMe in the 4th quarter valued at approximately $135,000. Finally, Jump Financial LLC acquired a new position in WalkMe in the 3rd quarter valued at approximately $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.