Alkami Technology (NASDAQ:ALKT) Earns “Market Outperform” Rating from Citizens Jmp

Alkami Technology (NASDAQ:ALKT)‘s stock had its “market outperform” rating reissued by equities research analysts at Citizens Jmp in a research report issued to clients and investors on Thursday, September 24th, Benzinga reports. They presently have a $24.00 price target on the stock. Citizens Jmp’s target price points to a potential upside of 75.31% from the stock’s current price.

Several other research firms have also weighed in on ALKT. JPMorgan Chase & Co. lowered Alkami Technology from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $14.00 in a research report on Thursday, September 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. Citigroup reissued a “market outperform” rating on shares of Alkami Technology in a research report on Thursday, September 24th. Finally, Needham & Company LLC lifted their price objective on Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.00.

Alkami Technology Stock Performance

ALKT stock opened at $13.69 on Thursday. The stock has a 50-day moving average price of $18.70 and a 200-day moving average price of $17.44. Alkami Technology has a 1-year low of $13.20 and a 1-year high of $24.91. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.46 billion, a PE ratio of -32.59 and a beta of 0.61.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data 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). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The business had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. During the same period last year, the business posted ($0.13) earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Alkami Technology will post 0.15 earnings per share for the current year.

Institutional Trading of Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. IFP Advisors Inc increased its position in Alkami Technology by 46,900.0% in the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the company’s stock valued at $26,000 after buying an additional 1,407 shares in the last quarter. Corient Private Wealth LP increased its position in Alkami Technology by 24.9% in the 2nd quarter. Corient Private Wealth LP now owns 153,882 shares of the company’s stock valued at $2,788,000 after buying an additional 30,698 shares in the last quarter. JANA Partners Management LP increased its position in Alkami Technology by 24.2% in the 2nd quarter. JANA Partners Management LP now owns 6,747,707 shares of the company’s stock valued at $122,268,000 after buying an additional 1,316,319 shares in the last quarter. Headlands Technologies LLC increased its position in Alkami Technology by 186.2% in the 2nd quarter. Headlands Technologies LLC now owns 34,932 shares of the company’s stock valued at $633,000 after buying an additional 22,728 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Alkami Technology in the 2nd quarter valued at about $2,716,000. 54.97% of the stock is owned by institutional investors.

About Alkami Technology

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions in the United States. Its platform is designed primarily for community, regional and other banks and credit unions seeking to deliver online and mobile banking experiences to consumers and businesses.

The company’s products and services include digital account access, account opening, money movement and payments, card management, financial wellness tools, data and analytics, marketing and customer engagement capabilities, and solutions for commercial banking.