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

by · The Cerbat Gem

Shares of Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.80.

ALKT has been the topic of a number of analyst reports. Barclays cut their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Citizens Jmp dropped their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th.

Get Our Latest Report on Alkami Technology

Alkami Technology Trading Down 0.1%

Shares of NASDAQ:ALKT opened at $16.61 on Friday. Alkami Technology has a 12-month low of $14.11 and a 12-month high of $31.18. The business’s fifty day simple moving average is $16.79 and its 200-day simple moving average is $19.12. The company has a market capitalization of $1.78 billion, a PE ratio of -35.34 and a beta of 0.54. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company’s revenue was up 28.9% compared to the same quarter last year. As a group, equities research analysts predict that Alkami Technology will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 844,772 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the purchase, the director directly owned 17,445,994 shares in the company, valued at $290,126,880.22. This represents a 5.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Atlantic L.P. General bought 1,103,749 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $17.56 per share, for a total transaction of $19,381,832.44. Following the completion of the purchase, the director owned 13,979,451 shares in the company, valued at $245,479,159.56. The trade was a 8.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 7,393,058 shares of company stock worth $127,424,086 and have sold 13,739 shares worth $232,189. 17.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALKT. Amundi lifted its position in Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares during the period. Advisors Asset Management Inc. lifted its position in Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alkami Technology by 19.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock worth $947,000 after acquiring an additional 5,884 shares during the period. Millennium Management LLC lifted its position in Alkami Technology by 64.7% during the 1st quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock worth $18,340,000 after acquiring an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after acquiring an additional 71,949 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

About Alkami Technology

(Get Free Report)

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.

Featured Stories