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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.80.

Several analysts have recently commented on the stock. Barclays decreased their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday. Citizens Jmp decreased their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Needham & Company LLC decreased their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th.

Alkami Technology Trading Down 3.4%

Shares of Alkami Technology stock opened at $15.31 on Wednesday. The company’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $18.65. The stock has a market capitalization of $1.64 billion, a PE ratio of -32.57 and a beta of 0.58. Alkami Technology has a 1-year low of $14.11 and a 1-year high of $31.08. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.30). The business had revenue of $126.14 million for the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, equities analysts anticipate that Alkami Technology will post 0.18 earnings per share for the current year.

Insider Activity at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of Alkami Technology stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the acquisition, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have acquired 4,541,543 shares of company stock worth $76,759,674. 17.10% of the stock is owned by company insiders.

Institutional Trading of Alkami Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. JANA Partners Management LP bought a new stake in Alkami Technology in the 3rd quarter valued at $47,008,000. Westfield Capital Management Co. LP increased its holdings in Alkami Technology by 160.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after acquiring an additional 1,904,474 shares during the last quarter. Long Path Partners LP increased its holdings in Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after acquiring an additional 1,490,357 shares during the last quarter. General Atlantic L.P. increased its holdings in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares during the last quarter. Finally, Herald Investment Management Ltd increased its holdings in Alkami Technology by 122.2% in the 3rd quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $9,936,000 after acquiring an additional 220,000 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Company Profile

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.