Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $36.00.

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Barclays decreased their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Needham & Company LLC cut their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Citizens Jmp reduced their price objective on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 31st. Finally, The Goldman Sachs Group decreased their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 31st.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the transaction, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Alkami Technology by 176.2% in the second quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after acquiring an additional 601 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares in the last quarter. First Horizon Corp bought a new position in Alkami Technology in the 3rd quarter worth approximately $30,000. Assetmark Inc. bought a new position in Alkami Technology in the 2nd quarter worth approximately $44,000. Finally, AlphaQuest LLC grew its holdings in Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after buying an additional 544 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of ALKT opened at $22.18 on Friday. The firm has a fifty day simple moving average of $21.63 and a two-hundred day simple moving average of $23.96. The firm has a market cap of $2.33 billion, a PE ratio of -51.58 and a beta of 0.53. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. Alkami Technology has a 1-year low of $18.71 and a 1-year high of $36.96.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The firm had revenue of $112.95 million during the quarter, compared to the consensus estimate of $113.48 million. During the same period in the previous year, the firm earned ($0.09) EPS. The business’s revenue was up 31.5% on a year-over-year basis. On average, equities analysts anticipate that Alkami Technology will post -0.34 EPS 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.