JPMorgan Chase & Co. Has Lowered Expectations for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 32.84% from the stock’s current price.

ALKT has been the topic of several other reports. Needham & Company LLC lowered 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 note on Thursday, February 26th. Barclays cut their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.20.

Alkami Technology Stock Performance

Shares of ALKT opened at $14.30 on Monday. The firm has a market cap of $1.53 billion, a P/E ratio of -30.56 and a beta of 0.57. Alkami Technology has a twelve month low of $14.11 and a twelve month high of $31.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The firm’s 50 day moving average price is $16.52 and its two-hundred day moving average price is $18.30.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). The company had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, analysts forecast that Alkami Technology will post 0.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the transaction, the director directly owned 17,445,994 shares of the company’s stock, valued at $290,126,880.22. This represents a 5.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have purchased 4,041,543 shares of company stock worth $67,594,674. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC increased its stake 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 period. Smartleaf Asset Management LLC raised its position in shares of Alkami Technology by 91.7% in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Alkami Technology during the first quarter worth approximately $36,000. Finally, Essential Partners LLC increased its holdings in Alkami Technology by 7,090.9% in 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. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.