WKME - Why WalkMe Stock Was Blasting Higher This Week
2023-05-19 08:34:55 ET
WalkMe (NASDAQ: WKME) stock was on quite the run this week. Investors flocked to the specialty tech company's shares after it reported solid first-quarter results on Wednesday. Consequently, as of Friday before market open its stock price had risen by more than 16% week to date, according to data compiled by S&P Global Market Intelligence .
For the quarter, WalkMe's revenue totaled $65.9 million, representing an improvement of 16% over the first-quarter 2022 tally. The niche tech company , which offers a no-code digital adoption platform, again posted a loss on the bottom line according to generally accepted accounting principles ( GAAP ) , but this deepened only slightly to $26.1 million ($0.30 per share) from the year-ago shortfall of a bit more than $23 million.
With these figures, WalkMe beat the average analyst for revenue of just over $65 million, but missed widely on per-share GAAP earnings -- those prognosticators were modeling a loss of only $0.11 per share.
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Why WalkMe Stock Was Blasting Higher This Week