WalkMe Ltd. (NASDAQ:WKME) Sees Large Increase in Short Interest

WalkMe Ltd. (NASDAQ:WKME) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 1,310,000 shares, a growth of 216.0% from the May 31st total of 414,500 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average trading volume of 694,300 shares, the days-to-cover ratio is presently 1.9 days.

WalkMe Stock Up 0.1 %

Shares of WKME opened at $13.99 on Friday. The business has a fifty day moving average of $10.23 and a 200 day moving average of $9.77. WalkMe has a 52-week low of $7.60 and a 52-week high of $14.09. The company has a market cap of $1.21 billion, a PE ratio of -31.80 and a beta of -0.01.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WKME shares. Citigroup reduced their target price 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. Wells Fargo & Company lowered 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. Barclays lowered 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. Morgan Stanley lowered 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. Finally, Needham & Company LLC restated a “hold” rating on shares of WalkMe in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.86.

Hedge Funds Weigh In On WalkMe

Several institutional investors have recently made changes to their positions in WKME. Trexquant Investment LP purchased a new position in WalkMe in the fourth quarter valued at about $135,000. Citigroup Inc. increased its position in shares of WalkMe by 6.5% in the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock valued at $228,000 after buying an additional 1,472 shares in the last quarter. California State Teachers Retirement System increased its position in shares of WalkMe by 9.1% during the first quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock worth $224,000 after purchasing an additional 2,166 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of WalkMe during the first quarter worth approximately $289,000. Finally, Corton Capital Inc. increased its position in shares of WalkMe by 114.1% during the third quarter. Corton Capital Inc. now owns 39,851 shares of the company’s stock worth $378,000 after purchasing an additional 21,236 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.