Alkami Technology (ALKT) Set to Announce Quarterly Earnings on Wednesday

Alkami Technology (NASDAQ:ALKT) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Alkami Technology has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. On average, analysts expect Alkami Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Alkami Technology Trading Down 0.4 %

Shares of Alkami Technology stock opened at $38.05 on Wednesday. Alkami Technology has a 1-year low of $17.32 and a 1-year high of $38.81. The company’s fifty day simple moving average is $32.02 and its 200-day simple moving average is $29.39. The stock has a market capitalization of $3.71 billion, a PE ratio of -63.42 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays increased their price target on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Needham & Company LLC boosted their price objective on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Craig Hallum lifted their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Insider Activity

In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the transaction, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,950,010.39. Following the sale, the director now owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,648,416 shares of company stock worth $113,920,758. Company insiders own 38.00% of the company’s stock.

About Alkami Technology

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