Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Rating of “Hold” by Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.20.

ALKT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp decreased their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd.

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the transaction, the director owned 17,445,994 shares of the company’s stock, valued at $290,126,880.22. The trade was a 5.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 4,041,543 shares of company stock worth $67,594,674 in the last 90 days. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of ALKT. Summit Securities Group LLC lifted its position 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 valued at $29,000 after buying an additional 842 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 worth $34,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares during the period. Optiver Holding B.V. acquired a new stake in Alkami Technology during the 1st quarter valued at $36,000. Finally, Essential Partners LLC lifted its holdings in Alkami Technology by 7,090.9% during the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after purchasing an additional 2,340 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

Shares of ALKT stock remained flat at $19.02 during trading on Friday. 2,942,843 shares of the stock were exchanged, compared to its average volume of 2,288,690. Alkami Technology has a twelve month low of $13.98 and a twelve month high of $30.88. The firm’s 50 day moving average is $16.53 and its two-hundred day moving average is $18.00. The stock has a market capitalization of $2.04 billion, a P/E ratio of -40.47 and a beta of 0.57. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. During the same period last year, the business posted $0.08 EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Research analysts anticipate that Alkami Technology will post 0.18 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.