Alkami Technology, Inc. (NASDAQ:ALKT) Receives $22.80 Average Price Target from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.80.

A number of brokerages have commented on ALKT. Citizens Jmp dropped their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Needham & Company LLC dropped their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Barclays dropped their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the transaction, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This trade represents a 3.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic L.P. General acquired 900,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average cost of $18.41 per share, for a total transaction of $16,569,000.00. Following the completion of the transaction, the director owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. The trade was a 6.44% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 7,393,058 shares of company stock valued at $127,424,086 and have sold 13,739 shares valued at $232,189. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Essential Partners LLC boosted its holdings in shares of Alkami Technology by 7,090.9% in the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after buying an additional 2,340 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Alkami Technology by 5.7% in the 1st quarter. Bank of America Corp DE now owns 1,132,794 shares of the company’s stock valued at $17,751,000 after buying an additional 61,501 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Alkami Technology by 20.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company’s stock valued at $60,413,000 after buying an additional 646,898 shares in the last quarter. Irenic Capital Management LP boosted its holdings in shares of Alkami Technology by 27.0% in the 1st quarter. Irenic Capital Management LP now owns 2,675,151 shares of the company’s stock valued at $41,920,000 after buying an additional 568,703 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Alkami Technology by 42.1% in the 1st quarter. California State Teachers Retirement System now owns 97,396 shares of the company’s stock valued at $1,526,000 after buying an additional 28,846 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Down 0.4%

NASDAQ ALKT opened at $16.80 on Friday. Alkami Technology has a 52 week low of $14.11 and a 52 week high of $31.18. The firm has a 50 day moving average of $16.72 and a two-hundred day moving average of $18.92. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.80 billion, a PE ratio of -35.74 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) 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 firm had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same period in the prior year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, research analysts expect that Alkami Technology will post 0.18 EPS for the current fiscal year.

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.