Alkami Technology (NASDAQ:ALKT) Stock Gets Price Target Trim from Barclays

Alkami Technology (NASDAQ:ALKT) had its price target decreased by Barclays from $21.00 to $15.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Alkami Technology from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $14.00 in a research report on Thursday, September 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Needham & Company LLC increased their target price on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 24th. Citizens Jmp restated a “market outperform” rating and issued a $24.00 target price on shares of Alkami Technology in a report on Thursday, September 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alkami Technology in a research report on Thursday, September 24th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Alkami Technology Stock Performance

Alkami Technology stock opened at $13.81 on Monday. The firm’s 50 day simple moving average is $17.92 and its 200-day simple moving average is $17.24. The company has a market cap of $1.48 billion, a P/E ratio of -32.88 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. Alkami Technology has a fifty-two week low of $13.20 and a fifty-two week high of $24.47.

Alkami Technology (NASDAQ:ALKT) last released its quarterly 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). The firm had revenue of $129.84 million for the quarter, compared to analyst estimates of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.13) EPS. As a group, equities research analysts predict that Alkami Technology will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently made changes to their positions in the business. Summit Securities Group LLC grew its position in Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after purchasing an additional 842 shares in the last quarter. IFP Advisors Inc increased its stake in Alkami Technology by 46,900.0% in the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the company’s stock valued at $26,000 after buying an additional 1,407 shares during the period. State of Wyoming increased its stake in Alkami Technology by 42.8% in the 1st quarter. State of Wyoming now owns 6,508 shares of the company’s stock valued at $102,000 after buying an additional 1,951 shares during the period. Optiver Holding B.V. acquired a new position in Alkami Technology in the 1st quarter valued at approximately $36,000. Finally, Essential Partners LLC increased its stake in Alkami Technology by 7,090.9% in the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after buying an additional 2,340 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company’s products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.