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

WalkMe Ltd. (NASDAQ:WKME) shares saw strong trading volume on Tuesday . 292,033 shares were traded during trading, a decline of 28% from the previous session’s volume of 404,603 shares.The stock last traded at $13.82 and had previously closed at $13.80.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their target price on WalkMe from $11.50 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of WalkMe in a research report on Thursday, June 6th. Morgan Stanley dropped their target price on WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. KeyCorp assumed coverage on WalkMe in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Barclays dropped their target price on WalkMe from $8.50 to $8.00 and set an “underweight” rating for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.86.

WalkMe Price Performance

The firm has a 50 day moving average price of $10.11 and a 200-day moving average price of $9.74.

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

Institutional Investors Weigh In On WalkMe

Several institutional investors have recently added to or reduced their stakes in the business. Scalar Gauge Management LLC purchased a new stake in WalkMe during the fourth quarter worth approximately $6,083,000. Rice Hall James & Associates LLC lifted its stake in WalkMe by 22.6% during the first quarter. Rice Hall James & Associates LLC now owns 339,437 shares of the company’s stock worth $2,919,000 after purchasing an additional 62,676 shares during the last quarter. Horrell Capital Management Inc. lifted its stake in WalkMe by 231.4% during the first quarter. Horrell Capital Management Inc. now owns 303,459 shares of the company’s stock worth $2,610,000 after purchasing an additional 211,900 shares during the last quarter. Acadian Asset Management LLC lifted its stake in WalkMe by 74.2% during the first quarter. Acadian Asset Management LLC now owns 256,431 shares of the company’s stock worth $2,190,000 after purchasing an additional 109,187 shares during the last quarter. Finally, Circumference Group LLC purchased a new stake in WalkMe in the fourth quarter valued at approximately $977,000. 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.