WalkMe plunges after wider Q1 loss, PT cuts

Walkme

24/05/2022 13:50

** Israeli software firm WalkMe Ltd's U.S.-listed shares
 WKME.O  drop 14.9% to $10.38 premarket
    ** WKME posts Q1 net loss of $29.7 mln, wider than $13.4 mln
a year earlier
    ** Co delivered a quarter with decelerating top-line metrics
and we expect shares to come under pressure in the near-term,
says Barclays, cuts PT to $15 from $23
    ** Stocks without a proven free-cash-flow story have and
will continue to face investor scrutiny, which may limit WKME
multiple expansion, says BMO Capital Markets, cuts PT to $14
from $19
    ** We look for sustained operating leverage and
stabilization of large deal visibility to return to a more
constructive stance on the stock, says KeyBanc Capital Markets,
downgrades to "Sector weight" from "Over weight"
    ** Co's Q1 revenue jumps 33% to $56.8 mln, y/y
    ** Up to last close, stock had fallen ~38% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))