WalkMe (WKME) Shares Skyrocket, What You Need To Know

Jabin Bastian /
2024/06/05 12:03 pm EDT

What Happened:

Shares of user support software provider WalkMe (NASDAQ: WKME) jumped 44.1% in the pre-market session after the company announced it has agreed to be acquired by German enterprise software provider SAP for $14.00 per share in an all-cash transaction, representing an equity value of approximately $1.5 billion. The offer price represents a 45% premium to WalkMe's closing share price on June 4, 2024.

Is now the time to buy WalkMe? Access our full analysis report here, it's free.

What is the market telling us:

WalkMe's shares are not very volatile than the market average and over the last year have had only 18 moves greater than 5%. Moves this big are very rare for WalkMe and that is indicating to us that this news had a significant impact on the market's perception of the business.

WalkMe is up 38.2% since the beginning of the year. Investors who bought $1,000 worth of WalkMe's shares at the IPO in June 2021 would now be looking at an investment worth $477.61.

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.