Wells Fargo downgraded WalkMe (WKME) to Equal Weight from Overweight with a price target of $14, up from $12, after the company entered into a definitive agreement under which SAP (SAP) will acquire WalkMe for $14.00 per share in an all-cash transaction. The analyst believes the deal will likely close without a competing suitor. The SAP acquisition at a 45% premium is an ideal outcome for shareholders, the analyst tells investors in a research note.
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Read More on WKME:
- SAP SE Announces Merger with WalkMe Ltd.
- SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings
- WalkMe price target lowered to $10 from $11.50 at BMO Capital
- WalkMe partners with Cognizant, UST
- WalkMe’s Partner Ecosystem Gains Momentum, Adds New Strategic Alliances With Industry Leaders
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