Stephens Initiates Coverage on Alkami Technology (NASDAQ:ALKT)

Investment analysts at Stephens assumed coverage on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Friday, Benzinga reports. The brokerage set an “equal weight” rating and a $15.00 price target on the stock. Stephens‘s price objective would indicate a potential upside of 7.60% from the stock’s previous close.

A number of other research analysts have also commented on ALKT. William Blair lowered shares of Alkami Technology from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 29th. Craig Hallum downgraded shares of Alkami Technology from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Thursday, October 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. KeyCorp cut Alkami Technology from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 29th. Finally, Needham & Company LLC decreased their target price on Alkami Technology from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of “Reduce” and an average target price of $17.17.

Alkami Technology Trading Down 0.9%

Shares of Alkami Technology stock opened at $13.94 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day simple moving average of $15.45 and a two-hundred day simple moving average of $16.95. Alkami Technology has a 1 year low of $12.10 and a 1 year high of $24.47. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -41.00 and a beta of 0.52.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.26). The company had revenue of $134.91 million during the quarter, compared to analyst estimates of $133.54 million. Alkami Technology had a negative net margin of 7.24% and a negative return on equity of 4.75%. Alkami Technology’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Research analysts forecast that Alkami Technology will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently modified their holdings of ALKT. Ingalls & Snyder LLC increased its stake in Alkami Technology by 49.2% during the 3rd quarter. Ingalls & Snyder LLC now owns 16,342 shares of the company’s stock worth $224,000 after acquiring an additional 5,392 shares during the period. First Trust Advisors LP acquired a new position in Alkami Technology in the 3rd quarter valued at $3,839,000. Advisors Asset Management Inc. acquired a new position in Alkami Technology in the 3rd quarter valued at $31,000. GW&K Investment Management LLC lifted its position in shares of Alkami Technology by 3.5% during the 3rd quarter. GW&K Investment Management LLC now owns 1,214,490 shares of the company’s stock valued at $16,626,000 after acquiring an additional 40,774 shares during the period. Finally, Cibc World Market Inc. lifted its position in shares of Alkami Technology by 20.4% during the 3rd quarter. Cibc World Market Inc. now owns 159,250 shares of the company’s stock valued at $2,180,000 after acquiring an additional 27,000 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

About Alkami Technology

Alkami Technology provides cloud-based digital banking software to banks and credit unions. Its platform helps financial institutions deliver online and mobile banking experiences to their customers and members. The company’s offerings include digital banking tools, data analytics and marketing capabilities, and services that support account opening and payments. These products are designed to help financial institutions manage digital customer interactions through a unified platform. Founded in 2009 and headquartered in Plano, Texas, Alkami primarily serves financial institutions in the United States.