Alkami Technology (NASDAQ:ALKT) Sets New 12-Month Low After Analyst Downgrade

Alkami Technology, Inc. (NASDAQ:ALKT) shares hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $20.00 to $19.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alkami Technology traded as low as $14.02 and last traded at $14.1120, with a volume of 364882 shares changing hands. The stock had previously closed at $14.68.

Other equities analysts have also recently issued reports about the company. Barclays lowered their target price on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Citizens Jmp cut their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.20.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 844,772 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the completion of the purchase, the director owned 17,445,994 shares in the company, valued at $290,126,880.22. This trade represents a 5.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have acquired 4,041,543 shares of company stock worth $67,594,674. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Alkami Technology

Hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in shares of Alkami Technology in the first quarter valued at about $36,000. Lavelle Capital LP purchased a new position in Alkami Technology during the first quarter worth about $762,000. Essential Partners LLC raised its holdings in Alkami Technology by 7,090.9% during the first quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after purchasing an additional 2,340 shares in the last quarter. Bank of America Corp DE lifted its position in Alkami Technology by 5.7% in the first quarter. Bank of America Corp DE now owns 1,132,794 shares of the company’s stock valued at $17,751,000 after purchasing an additional 61,501 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Alkami Technology by 20.2% in the first quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company’s stock valued at $60,413,000 after purchasing an additional 646,898 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Performance

The stock’s 50-day moving average is $16.52 and its 200 day moving average is $18.30. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -30.11 and a beta of 0.57. 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 released its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) 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 analyst estimates of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

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.