Alkami Technology (NASDAQ:ALKT) Coverage Initiated by Analysts at Stephens

Equities research analysts at Stephens assumed coverage on shares of Alkami Technology (NASDAQ:ALKT) in a research report issued on Friday, Benzinga reports. The firm set an “equal weight” rating and a $15.00 price target on the stock. Stephens‘s price objective points to a potential upside of 7.60% from the company’s current price.

Several other analysts have also issued reports on ALKT. William Blair lowered shares of Alkami Technology from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 29th. Craig Hallum downgraded shares of Alkami Technology from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Thursday, October 29th. Citigroup cut Alkami Technology from a “market outperform” rating to a “market perform” rating in a research note on Thursday, October 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Alkami Technology from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $17.17.

Alkami Technology Trading Down 0.9%

Shares of Alkami Technology stock opened at $13.94 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.99. Alkami Technology has a 12-month low of $12.10 and a 12-month high of $24.47. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -41.00 and a beta of 0.52. The firm’s 50-day moving average price is $15.45 and its two-hundred day moving average price is $16.95.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, October 28th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.26). The firm had revenue of $134.91 million during the quarter, compared to analyst estimates of $133.54 million. Alkami Technology had a negative net margin of 7.24% and a negative return on equity of 4.75%. Alkami Technology’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, analysts forecast that Alkami Technology will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKT. Ingalls & Snyder LLC raised its stake in Alkami Technology by 49.2% during the third quarter. Ingalls & Snyder LLC now owns 16,342 shares of the company’s stock worth $224,000 after acquiring an additional 5,392 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Alkami Technology in the third quarter worth about $3,839,000. Advisors Asset Management Inc. acquired a new stake in shares of Alkami Technology in the 3rd quarter valued at approximately $31,000. GW&K Investment Management LLC boosted its stake in shares of Alkami Technology by 3.5% in the 3rd quarter. GW&K Investment Management LLC now owns 1,214,490 shares of the company’s stock valued at $16,626,000 after purchasing an additional 40,774 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in shares of Alkami Technology by 20.4% in the 3rd quarter. Cibc World Market Inc. now owns 159,250 shares of the company’s stock valued at $2,180,000 after purchasing an additional 27,000 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology provides cloud-based digital banking software to banks and credit unions. Its platform helps financial institutions deliver online and mobile banking experiences to their customers and members. The company’s offerings include digital banking tools, data analytics and marketing capabilities, and services that support account opening and payments. These products are designed to help financial institutions manage digital customer interactions through a unified platform. Founded in 2009 and headquartered in Plano, Texas, Alkami primarily serves financial institutions in the United States.