Alkami Technology (NASDAQ:ALKT) Stock Price Up 8.8% – Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) rose 8.8% on Monday. The stock traded as high as $13.36 and last traded at $13.4940. 509,969 shares traded hands during trading, a decline of 73% from the average session volume of 1,862,495 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

ALKT has been the subject of several recent analyst reports. Citizens Jmp downgraded Alkami Technology from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 29th. Craig Hallum downgraded Alkami Technology from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Thursday, October 29th. Barclays cut their price objective on Alkami Technology from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Needham & Company LLC reduced their target price on Alkami Technology from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, William Blair cut Alkami Technology from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $17.60.

Alkami Technology Price Performance

The company has a market capitalization of $1.42 billion, a P/E ratio of -39.00 and a beta of 0.52. The stock’s fifty day simple moving average is $16.34 and its 200-day simple moving average is $17.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.04 and a quick ratio of 2.04.

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

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. JANA Partners Management LP lifted its position in Alkami Technology by 24.2% in the second quarter. JANA Partners Management LP now owns 6,747,707 shares of the company’s stock worth $122,268,000 after purchasing an additional 1,316,319 shares during the period. North Reef Capital Management LP increased its holdings in Alkami Technology by 264.3% in the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after buying an additional 5,550,000 shares during the period. Janus Henderson Group PLC raised its stake 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. The Manufacturers Life Insurance Company acquired a new position in shares of Alkami Technology in the 2nd quarter valued at $46,927,000. Finally, Irenic Capital Management LP raised its stake 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. 54.97% of the stock is currently owned by institutional investors and hedge funds.

About Alkami Technology

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions, primarily community banks and credit unions in the United States. Its platform is designed to help institutions deliver digital experiences across online and mobile channels while managing customer relationships and banking operations.

The company’s products and services include digital account opening, online and mobile banking, payments, money movement, card management, financial wellness tools, data and analytics, marketing capabilities, and fraud prevention.