Alkami Technology’s (ALKT) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Thursday,Benzinga reports. Citizens Jmp currently has a $24.00 price objective on the stock.

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

Alkami Technology Stock Down 2.7%

Alkami Technology stock opened at $13.80 on Thursday. Alkami Technology has a twelve month low of $13.69 and a twelve month high of $25.96. 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 firm has a market cap of $1.48 billion, a PE ratio of -32.86 and a beta of 0.61. The firm’s 50 day moving average price is $18.92 and its two-hundred day moving average price is $17.54.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The company had revenue of $129.84 million for the quarter, compared to analyst estimates of $128.70 million. During the same period last year, the business earned ($0.13) EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts predict that Alkami Technology will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALKT. IFP Advisors Inc boosted its holdings in Alkami Technology by 46,900.0% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the company’s stock worth $26,000 after purchasing an additional 1,407 shares in the last quarter. Corient Private Wealth LP raised its holdings in Alkami Technology by 24.9% during the second 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 raised its holdings in Alkami Technology by 24.2% during the second 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 lifted its position in shares of Alkami Technology by 186.2% in the second quarter. Headlands Technologies LLC now owns 34,932 shares of the company’s stock worth $633,000 after buying an additional 22,728 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Alkami Technology in the second quarter worth about $2,716,000. Institutional investors own 54.97% of the company’s stock.

Key Stories Impacting Alkami Technology

Here are the key news stories impacting Alkami Technology this week:

• Positive Sentiment: Provident Bank launched Alkami’s MANTL Business and Retail Account Opening products across its 135-branch network. The deployment provides a customer-validation signal and could support future platform adoption and recurring revenue. Provident Bank MANTL launch
• Positive Sentiment: Citizens JMP reaffirmed a “market outperform” rating and assigned a $24 price target, implying substantial potential upside from recent trading levels. Citizens JMP rating
• Neutral Sentiment: Valuation commentary is mixed: one analysis argues ALKT could be approximately 33% undervalued now that the deal review has ended, while another says the stock is near fair value. This suggests upside may depend on execution rather than a takeover.
• Neutral Sentiment: Reports describe conflicting analyst sentiment toward Alkami and other technology companies, highlighting uncertainty over the company’s standalone growth outlook. Conflicting analyst sentiment
• Negative Sentiment: Jana Partners’ push for a sale failed after Alkami chose to remain independent. The loss of a possible buyout catalyst sent shares to levels last seen in May 2023. Jana Partners and Alkami sale review
• Negative Sentiment: JPMorgan downgraded Alkami from “overweight” to “underweight” and cut its price target from $24 to $14, materially weakening near-term investor confidence. JPMorgan downgrade

Alkami Technology Company Profile

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.