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

WalkMe (NASDAQ:WKME) had its price objective decreased by investment analysts at Morgan Stanley from $12.00 to $11.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 40.66% from the stock’s previous close.

Several other analysts also recently issued reports on WKME. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of WalkMe in a research report on Thursday, February 22nd. Wells Fargo & Company raised 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. TheStreet raised shares of WalkMe from a “d” rating to a “c-” rating in a research report on Wednesday, February 21st. KeyCorp began coverage on shares of WalkMe in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Barclays decreased their target price on shares of WalkMe from $10.00 to $8.50 and set an “underweight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.36.

WalkMe Price Performance

WKME traded up $0.11 during trading on Wednesday, reaching $7.82. 91,370 shares of the stock were exchanged, compared to its average volume of 80,707. The business’s 50 day moving average price is $8.98 and its two-hundred day moving average price is $9.46. The company has a market capitalization of $678.62 million, a price-to-earnings ratio of -11.61 and a beta of -0.14. WalkMe has a 1 year low of $7.60 and a 1 year high of $11.44.

WalkMe (NASDAQ:WKME) last posted its earnings results 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, analysts anticipate that WalkMe will post -0.43 EPS for the current year.

Hedge Funds Weigh In On WalkMe

A number of hedge funds have recently added to or reduced their stakes in WKME. HighTower Advisors LLC acquired a new position in WalkMe in the first quarter worth $170,000. Clearbridge Investments LLC boosted its holdings in shares of WalkMe by 46.9% during the first quarter. Clearbridge Investments LLC now owns 854,884 shares of the company’s stock valued at $12,900,000 after acquiring an additional 272,756 shares during the period. EVR Research LP acquired a new position in shares of WalkMe during the first quarter valued at $11,368,000. Royal Bank of Canada boosted its holdings in shares of WalkMe by 29.5% during the first quarter. Royal Bank of Canada now owns 69,624 shares of the company’s stock valued at $1,051,000 after acquiring an additional 15,877 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of WalkMe during the first quarter valued at $25,000. 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.