Alkami Technology (NASDAQ:ALKT) Given New $18.00 Price Target at Citigroup

Alkami Technology (NASDAQ:ALKT – Get Rating) had its target price reduced by Citigroup from $32.00 to $18.00 in a research report released on Tuesday, The Fly reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on the stock. Needham & Company LLC lowered their target price on shares of Alkami Technology from $40.00 to $22.00 and set a buy rating for the company in a research note on Thursday, February 24th. Barclays lowered their price target on shares of Alkami Technology from $17.00 to $15.00 in a research report on Monday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $23.00.

ALKT stock opened at $13.98 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.78 and a quick ratio of 9.78. Alkami Technology has a 1-year low of $9.23 and a 1-year high of $38.63. The firm has a fifty day moving average price of $12.43 and a two-hundred day moving average price of $14.82. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -24.10 and a beta of 0.80.

Alkami Technology (NASDAQ:ALKT – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Alkami Technology had a negative net margin of 30.15% and a negative return on equity of 13.11%. The business had revenue of $44.79 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the previous year, the firm earned ($1.30) EPS. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, analysts expect that Alkami Technology will post -0.65 EPS for the current fiscal year.

In related news, insider Stephen Bohanon sold 24,232 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $13.81, for a total value of $334,643.92. Following the completion of the sale, the insider now owns 382,567 shares of the company’s stock, valued at $5,283,250.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Hansen sold 4,313 shares of the company’s stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $10.51, for a total transaction of $45,329.63. Following the completion of the sale, the director now directly owns 284,779 shares of the company’s stock, valued at approximately $2,993,027.29. The disclosure for this sale can be found here. Insiders have sold 41,244 shares of company stock valued at $550,488 in the last 90 days. Insiders own 40.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC acquired a new stake in Alkami Technology in the fourth quarter worth about $52,000. Point72 Hong Kong Ltd acquired a new stake in Alkami Technology in the 1st quarter valued at about $45,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Alkami Technology in the 4th quarter valued at about $113,000. Optimus Prime Fund Management Co. Ltd. acquired a new stake in Alkami Technology in the 4th quarter valued at about $201,000. Finally, Jane Street Group LLC acquired a new stake in Alkami Technology in the 1st quarter valued at about $178,000. 49.50% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Company Profile (Get Rating)

Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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