WalkMe (NASDAQ:WKME) Sees Strong Trading Volume

Shares of WalkMe Ltd. (NASDAQ:WKME) saw strong trading volume on Wednesday . 372,245 shares changed hands during trading, a decline of 10% from the previous session’s volume of 411,944 shares.The stock last traded at $13.90 and had previously closed at $13.88.

Wall Street Analysts Forecast Growth

WKME has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of WalkMe in a report on Thursday, June 6th. KeyCorp began coverage on shares of WalkMe in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Wells Fargo & Company reduced their target price on WalkMe from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Morgan Stanley cut their price target on shares of WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Citigroup dropped their price objective on shares of WalkMe from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, WalkMe presently has a consensus rating of “Hold” and a consensus target price of $12.86.

WalkMe Price Performance

The stock has a 50 day moving average price of $10.59 and a 200-day moving average price of $9.85. The stock has a market capitalization of $1.21 billion, a P/E ratio of -31.55 and a beta of 0.15.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. WalkMe had a negative return on equity of 43.53% and a negative net margin of 14.52%. The firm had revenue of $68.57 million during the quarter, compared to the consensus estimate of $68.10 million.

Hedge Funds Weigh In On WalkMe

Hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its stake in WalkMe by 6.5% in the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock worth $228,000 after acquiring an additional 1,472 shares during the period. Trexquant Investment LP purchased a new position in shares of WalkMe during the fourth quarter valued at about $135,000. Circumference Group LLC bought a new position in WalkMe in the fourth quarter worth about $977,000. Scalar Gauge Management LLC purchased a new stake in WalkMe in the fourth quarter worth about $6,083,000. Finally, Quadrature Capital Ltd boosted its position in WalkMe by 203.9% during the 4th quarter. Quadrature Capital Ltd now owns 59,862 shares of the company’s stock valued at $637,000 after acquiring an additional 40,161 shares in the last quarter. Hedge funds and other institutional investors 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.