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

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

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday. Needham & Company LLC cut their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Barclays cut their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Citizens Jmp cut their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th.

Alkami Technology Stock Performance

Alkami Technology stock opened at $15.31 on Wednesday. The company’s 50-day moving average price is $16.72 and its 200-day moving average price is $18.65. Alkami Technology has a twelve month low of $14.11 and a twelve month high of $31.08. 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 company has a market cap of $1.64 billion, a PE ratio of -32.57 and a beta of 0.58.

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

Insider Buying and Selling

In other news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the acquisition, the director owned 17,445,994 shares of the company’s stock, valued at approximately $290,126,880.22. This trade represents a 5.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 4,541,543 shares of company stock worth $76,759,674. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after buying an additional 692 shares during the period. AlphaQuest LLC boosted its position in Alkami Technology by 54.5% in the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after buying an additional 544 shares during the period. Global Retirement Partners LLC purchased a new stake in Alkami Technology in the 4th quarter valued at about $37,000. Finally, Summit Securities Group LLC boosted its position in Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after buying an additional 842 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Company Profile

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.