Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Rating of “Hold” from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned an average rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.80.

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday. Citizens Jmp dropped their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Finally, Needham & Company LLC raised their target price on shares of Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday.

Alkami Technology Stock Up 0.9%

ALKT stock traded up $0.18 during mid-day trading on Monday, reaching $20.56. The company had a trading volume of 116,683 shares, compared to its average volume of 1,793,619. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -48.95 and a beta of 0.58. Alkami Technology has a 52 week low of $13.98 and a 52 week high of $26.89. The stock has a 50 day simple moving average of $17.93 and a two-hundred day simple moving average of $17.14. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13.

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

Institutional Trading of Alkami Technology

A number of hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC boosted its stake in shares of Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after acquiring an additional 842 shares during the period. Smartleaf Asset Management LLC lifted its holdings in 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 purchasing an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares during the period. Optiver Holding B.V. bought a new position in Alkami Technology during the first quarter worth $36,000. Finally, Essential Partners LLC increased its holdings in shares of Alkami Technology by 7,090.9% in the first quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after purchasing an additional 2,340 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.