Alkami Technology (NASDAQ:ALKT) Announces Earnings Results

Alkami Technology (NASDAQ:ALKT) issued its earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.26), FiscalAI reports. The firm had revenue of $134.91 million during the quarter, compared to analyst estimates of $133.54 million. Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.

Alkami Technology Trading Up 1.1%

Shares of ALKT stock traded up $0.17 on Wednesday, hitting $15.53. The company had a trading volume of 1,914,915 shares, compared to its average volume of 1,831,839. The firm has a market cap of $1.66 billion, a P/E ratio of -36.98 and a beta of 0.60. The stock’s 50-day moving average is $17.01 and its two-hundred day moving average is $17.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. Alkami Technology has a twelve month low of $13.20 and a twelve month high of $24.47.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered Alkami Technology from an “overweight” rating to an “underweight” rating and cut their price target for the company from $24.00 to $14.00 in a research note on Thursday, September 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Citigroup reiterated a “market outperform” rating on shares of Alkami Technology in a report on Thursday, September 24th. Needham & Company LLC lifted their target price on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Finally, Barclays cut their target price on shares of Alkami Technology from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.80.

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.