WalkMe (NASDAQ:WKME) Price Target Cut to $10.00

WalkMe (NASDAQ:WKME) had its price target lowered by Citigroup from $11.00 to $10.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

WKME has been the subject of a number of other research reports. Needham & Company LLC restated a buy rating and set a $20.00 target price on shares of WalkMe in a report on Thursday. KeyCorp assumed coverage on WalkMe in a research report on Thursday, March 21st. They set a sector weight rating on the stock. Barclays reduced their target price on shares of WalkMe from $8.50 to $8.00 and set an underweight rating for the company in a report on Thursday. BMO Capital Markets lowered their price target on shares of WalkMe from $11.50 to $10.00 and set a market perform rating on the stock in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of WalkMe from $14.00 to $12.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WalkMe currently has a consensus rating of Hold and an average price target of $12.86.

WalkMe Stock Performance

Shares of WKME opened at $9.22 on Thursday. The company has a 50 day moving average price of $8.20 and a 200-day moving average price of $9.30. WalkMe has a fifty-two week low of $7.60 and a fifty-two week high of $11.00. The stock has a market capitalization of $800.11 million, a PE ratio of -20.95 and a beta of -0.10.

Hedge Funds Weigh In On WalkMe

Several hedge funds and other institutional investors have recently modified their holdings of WKME. B. Riley Asset Management LLC grew its position in WalkMe by 9.0% during the 3rd quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock worth $12,500,000 after purchasing an additional 108,798 shares during the last quarter. Scalar Gauge Management LLC purchased a new stake in shares of WalkMe during the fourth quarter valued at $6,083,000. Rice Hall James & Associates LLC grew its holdings in shares of WalkMe by 22.6% during the first quarter. Rice Hall James & Associates LLC now owns 339,437 shares of the company’s stock valued at $2,919,000 after buying an additional 62,676 shares during the last quarter. Horrell Capital Management Inc. increased its position in shares of WalkMe by 231.4% in the 1st quarter. Horrell Capital Management Inc. now owns 303,459 shares of the company’s stock valued at $2,610,000 after acquiring an additional 211,900 shares during the period. Finally, Acadian Asset Management LLC raised its stake in WalkMe by 74.2% in the 1st quarter. Acadian Asset Management LLC now owns 256,431 shares of the company’s stock worth $2,190,000 after acquiring an additional 109,187 shares during 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.