Barclays Cuts WalkMe (NASDAQ:WKME) Price Target to $23.00

WalkMe (NASDAQ:WKME) had its target price trimmed by Barclays from $36.00 to $23.00 in a research report released on Wednesday, The Fly reports.

Shares of NASDAQ WKME opened at $16.99 on Wednesday. WalkMe has a 1-year low of $15.81 and a 1-year high of $34.42. The business has a fifty day moving average price of $20.08 and a 200 day moving average price of $25.22.

WalkMe (NASDAQ:WKME) last issued its quarterly earnings data on Wednesday, November 10th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $50.59 million during the quarter, compared to analysts’ expectations of $49.30 million. WalkMe had a negative return on equity of 189.88% and a negative net margin of 48.69%. As a group, equities analysts forecast that WalkMe will post -0.66 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Westchester Capital Management LLC purchased a new stake in WalkMe in the second quarter valued at about $28,000. JPMorgan Chase & Co. purchased a new stake in WalkMe in the second quarter valued at about $29,000. Royal Bank of Canada purchased a new stake in WalkMe in the third quarter valued at about $47,000. Morgan Stanley purchased a new stake in WalkMe in the second quarter valued at about $102,000. Finally, Qube Research & Technologies Ltd purchased a new stake in WalkMe in the second quarter valued at about $216,000. Institutional investors own 56.94% of the company’s stock.

About WalkMe

WalkMe Ltd. provides cloud-based digital adoption platform in the United States and internationally. Its digital adoption platform enables organizations to measure, drive, and act to maximize the impact of their digital transformation and accelerate the return on their software investment. The company was formerly known as Make Tutorial Ltd.

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