Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Recommendation of “Hold” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.20.

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp cut 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 research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd.

Alkami Technology Trading Down 2.0%

NASDAQ:ALKT traded down $0.36 during mid-day trading on Friday, reaching $17.35. 1,047,748 shares of the company’s stock traded hands, compared to its average volume of 2,158,331. Alkami Technology has a 12-month low of $13.98 and a 12-month high of $30.17. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -36.91 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30. The company has a 50 day moving average price of $16.72 and a 200-day moving average price of $17.85.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.30). The business had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, sell-side analysts predict that Alkami Technology will post 0.18 earnings per share for the current year.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General bought 844,772 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price 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 trade represents a 5.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders purchased 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Amundi boosted its holdings in shares of Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after buying an additional 548 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 32.4% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alkami Technology by 19.5% in 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 in the last quarter. 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 valued at $18,340,000 after acquiring an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Alkami Technology by 11.1% during the first 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 in the last quarter. Institutional investors own 54.97% of the company’s stock.

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.