WalkMe (NASDAQ:WKME) Sees Unusually-High Trading Volume

WalkMe Ltd. (NASDAQ:WKME) shares saw strong trading volume on Wednesday . 199,475 shares were traded during mid-day trading, an increase of 145% from the previous session’s volume of 81,571 shares.The stock last traded at $7.96 and had previously closed at $8.03.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of WalkMe in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their price target 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. KeyCorp initiated coverage on shares of WalkMe in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Morgan Stanley lowered their price objective 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, Barclays lowered their price objective on shares of WalkMe from $10.00 to $8.50 and set an “underweight” rating for the company in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WalkMe has a consensus rating of “Hold” and an average target price of $13.36.

WalkMe Stock Down 0.9 %

The company’s 50 day moving average price is $8.74 and its 200-day moving average price is $9.44.

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

Hedge Funds Weigh In On WalkMe

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Riley Asset Management LLC lifted its holdings in WalkMe by 9.0% during the third quarter. B. Riley Asset Management LLC now owns 1,318,554 shares of the company’s stock valued at $12,500,000 after purchasing an additional 108,798 shares during the last quarter. Scalar Gauge Management LLC purchased a new stake in WalkMe during the fourth quarter valued at about $6,083,000. Rice Hall James & Associates LLC lifted its holdings in 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 purchasing an additional 62,676 shares during the last quarter. ARK Investment Management LLC lifted its holdings in WalkMe by 34.5% during the third quarter. ARK Investment Management LLC now owns 253,573 shares of the company’s stock valued at $2,404,000 after purchasing an additional 65,012 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of WalkMe during the third quarter valued at about $884,000. 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.