Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Recommendation of “Hold” from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $23.80.

A number of brokerages have recently weighed in on ALKT. JPMorgan Chase & Co. raised their price target on Alkami Technology from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Wednesday, September 2nd. Finally, Needham & Company LLC increased their price objective on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 24th.

Institutional Trading of Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in the business. North Reef Capital Management LP boosted its position in Alkami Technology by 264.3% in the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after buying an additional 5,550,000 shares during the last quarter. JANA Partners Management LP boosted its holdings in Alkami Technology by 24.2% in the second quarter. JANA Partners Management LP now owns 6,747,707 shares of the company’s stock valued at $122,268,000 after purchasing an additional 1,316,319 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after purchasing an additional 1,023,297 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Alkami Technology by 20.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company’s stock worth $60,413,000 after purchasing an additional 646,898 shares during the last quarter. Finally, Bamco Inc. NY raised its position in shares of Alkami Technology by 24.6% in the 4th quarter. Bamco Inc. NY now owns 2,983,065 shares of the company’s stock valued at $68,819,000 after purchasing an additional 588,033 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

NASDAQ ALKT traded down $0.26 during trading hours on Friday, hitting $18.50. 121,371 shares of the stock were exchanged, compared to its average volume of 1,753,930. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -44.05 and a beta of 0.61. Alkami Technology has a 12-month low of $13.98 and a 12-month high of $26.89. The stock has a 50-day moving average of $19.07 and a 200 day moving average of $17.56.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The company had revenue of $129.84 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same period in the prior year, the firm posted ($0.13) EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Alkami Technology will post 0.15 earnings per share for the current year.

About Alkami Technology

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions in the United States. Its platform is designed primarily for community, regional and other banks and credit unions seeking to deliver online and mobile banking experiences to consumers and businesses.

The company’s products and services include digital account access, account opening, money movement and payments, card management, financial wellness tools, data and analytics, marketing and customer engagement capabilities, and solutions for commercial banking.