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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given an average recommendation of “Hold” by the seven ratings firms that are presently 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 issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.20.

Several research firms recently issued reports on ALKT. JPMorgan Chase & Co. reduced their price target on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Citizens Jmp lowered 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 report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th.

Insiders Place Their Bets

In related news, Director Atlantic Genpar (Bermu General bought 844,772 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the transaction, the director owned 17,445,994 shares in the company, valued at $290,126,880.22. The trade was a 5.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently bought and sold shares of ALKT. Summit Securities Group LLC increased its holdings 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. Smartleaf Asset Management LLC boosted its position in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after acquiring an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares during the last quarter. Optiver Holding B.V. acquired a new position in Alkami Technology during the first quarter valued at approximately $36,000. Finally, Essential Partners LLC raised its position in Alkami Technology by 7,090.9% during the first quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after purchasing an additional 2,340 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

Alkami Technology stock remained flat at $19.02 during trading hours on Friday. 2,942,843 shares of the company’s stock traded hands, compared to its average volume of 2,288,690. The business’s 50 day moving average is $16.53 and its 200-day moving average is $18.00. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -40.47 and a beta of 0.57. Alkami Technology has a 52-week low of $13.98 and a 52-week high of $30.88.

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