Alkami Technology, Inc. (NASDAQ:ALKT) Stock Has Average Price Target of $20.80 According to Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.80.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Alkami Technology from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $24.00 to $14.00 in a research report on Thursday, September 24th. Barclays lowered their price objective on Alkami Technology from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Needham & Company LLC boosted their price objective on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alkami Technology in a report on Thursday, September 24th.

Alkami Technology Trading Up 2.0%

ALKT opened at $14.01 on Tuesday. Alkami Technology has a 12-month low of $13.20 and a 12-month high of $24.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market capitalization of $1.50 billion, a PE ratio of -33.36 and a beta of 0.60. The firm’s fifty day moving average price is $17.58 and its 200 day moving average price is $17.21.

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

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Alkami Technology by 17.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,748 shares of the company’s stock worth $78,000 after purchasing an additional 870 shares during the last quarter. Farther Finance Advisors LLC increased its position in Alkami Technology by 3,740.4% in the third quarter. Farther Finance Advisors LLC now owns 86,792 shares of the company’s stock worth $1,188,000 after buying an additional 84,532 shares during the period. Congress Asset Management Co. increased its position in Alkami Technology by 22.9% in the third quarter. Congress Asset Management Co. now owns 511,425 shares of the company’s stock worth $7,001,000 after buying an additional 95,449 shares during the period. IFP Advisors Inc increased its position in Alkami Technology by 46,900.0% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the company’s stock worth $26,000 after buying an additional 1,407 shares during the period. Finally, Corient Private Wealth LP lifted its stake in Alkami Technology by 24.9% in the second quarter. Corient Private Wealth LP now owns 153,882 shares of the company’s stock valued at $2,788,000 after buying an additional 30,698 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Company Profile

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company’s products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.