Alkami Technology (NASDAQ:ALKT) Price Target Raised to $25.00

Alkami Technology (NASDAQ:ALKT) had its price objective boosted by Needham & Company LLC from $22.00 to $25.00 in a research note published on Monday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on ALKT. Citizens Jmp decreased their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.80.

Alkami Technology Stock Performance

Shares of ALKT opened at $20.35 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -48.45 and a beta of 0.58. The company’s 50 day simple moving average is $18.23 and its 200 day simple moving average is $17.21. Alkami Technology has a 1 year low of $13.98 and a 1 year high of $26.89.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.23). The firm had revenue of $129.84 million during the quarter, compared to analysts’ expectations of $128.70 million. Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The firm’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. On average, sell-side analysts predict that Alkami Technology will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Amundi increased its stake in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. lifted 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 valued at $64,000 after purchasing an additional 594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 purchasing an additional 5,884 shares during the period. Millennium Management LLC grew its holdings in shares of 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 purchasing an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 purchasing an additional 71,949 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other 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.