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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have received an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $23.80.

ALKT has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Finally, Needham & Company LLC raised their target price on shares of Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALKT. Amundi increased its position in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Alkami Technology by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock valued at $2,113,000 after purchasing an additional 691 shares during the period. Smartleaf Asset Management LLC increased 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 valued at $34,000 after purchasing an additional 692 shares during the last quarter. Finally, Summit Securities Group LLC boosted its holdings in shares of Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after buying an additional 842 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $20.22 on Monday. The firm has a market capitalization of $2.16 billion, a P/E ratio of -48.14 and a beta of 0.58. 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 stock has a 50 day moving average price of $18.45 and a 200-day moving average price of $17.25. Alkami Technology has a 52-week low of $13.98 and a 52-week high of $26.89.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.23). The firm had revenue of $129.84 million for the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. As a group, equities research analysts anticipate that Alkami Technology will post 0.14 EPS for the current fiscal year.

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.