Alkami Technology (NASDAQ:ALKT) Price Target Cut to $15.00 by Analysts at Barclays

Alkami Technology (NASDAQ:ALKT) had its target price decreased by stock analysts at Barclays from $21.00 to $15.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 5.89% from the stock’s current price.

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

Alkami Technology Stock Down 0.9%

NASDAQ ALKT traded down $0.12 during trading on Monday, reaching $14.16. 625,441 shares of the company’s stock were exchanged, compared to its average volume of 1,803,539. Alkami Technology has a fifty-two week low of $13.20 and a fifty-two week high of $24.47. The firm has a market capitalization of $1.51 billion, a PE ratio of -33.64 and a beta of 0.60. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. The company’s fifty day simple moving average is $18.21 and its 200-day simple moving average is $17.28.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.23). The business had revenue of $129.84 million for the quarter, compared to analysts’ expectations of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. Sell-side analysts predict that Alkami Technology will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in the company. JANA Partners Management LP increased 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 worth $122,268,000 after buying an additional 1,316,319 shares during the last quarter. North Reef Capital Management LP raised its position in Alkami Technology by 264.3% during the first quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after acquiring an additional 5,550,000 shares in the last quarter. Bamco Inc. NY lifted its stake in Alkami Technology by 24.6% in the fourth quarter. Bamco Inc. NY now owns 2,983,065 shares of the company’s stock valued at $68,819,000 after acquiring an additional 588,033 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Alkami Technology by 20.2% in the first quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company’s stock valued at $60,413,000 after acquiring an additional 646,898 shares during the last quarter. Finally, Irenic Capital Management LP acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $48,596,000. Institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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.