Alkami Technology (NASDAQ:ALKT) Price Target Raised to $24.00 at JPMorgan Chase & Co.

Alkami Technology (NASDAQ:ALKT) had its target price raised by research analysts at JPMorgan Chase & Co. from $19.00 to $24.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.50% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Needham & Company LLC boosted their price target on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citizens Jmp lowered their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.80.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT traded up $0.22 during trading on Monday, reaching $20.60. 116,683 shares of the company’s stock traded hands, compared to its average volume of 1,793,619. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The company has a 50-day simple moving average of $17.93 and a 200-day simple moving average of $17.14. The firm has a market cap of $2.20 billion, a PE ratio of -48.95 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). The business had revenue of $129.84 million for the quarter, compared to analysts’ expectations of $128.70 million. Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.13) EPS. As a group, analysts predict that Alkami Technology will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently modified their holdings of the business. Summit Securities Group LLC increased its position in shares of Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after buying an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the period. Optiver Holding B.V. purchased a new position in Alkami Technology during the 1st quarter valued at about $36,000. Finally, Essential Partners LLC lifted its stake in Alkami Technology by 7,090.9% in the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after purchasing an additional 2,340 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.