Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Alkami Technology, with one sell, three hold and three buy recommendations. The average 12-month price target is $22.80.
• Recent analyst actions were mixed but generally improved, including target-price increases from Needham to $25 and JPMorgan to $24, while Citizens lowered its target to $23; Weiss Ratings maintained a sell rating.
• Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year and above estimates, but posted an EPS loss of $0.08 that missed consensus expectations. Institutional investors own approximately 54.97% of the stock.

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have received a consensus rating of "Hold" from the seven ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $22.80.

ALKT has been the subject of several recent research reports. Citizens Jmp dropped their target price on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a research report on Thursday, April 30th. Needham & Company LLC upped their price objective on Alkami Technology from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Alkami Technology from $19.00 to $24.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research note on Friday, June 5th.

Alkami Technology Price Performance

Shares of ALKT stock traded up $0.18 during trading hours on Monday, reaching $20.56. 116,683 shares of the company were exchanged, compared to its average volume of 1,793,619. Alkami Technology has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The stock's fifty day moving average is $17.93 and its two-hundred day moving average is $17.14. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -48.95 and a beta of 0.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The company had revenue of $129.84 million during the quarter, compared to analyst estimates of $128.70 million. During the same period in the prior year, the business earned ($0.13) EPS. The business's revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts forecast that Alkami Technology will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently made changes to their positions in ALKT. Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company's stock valued at $194,121,000 after purchasing an additional 456,275 shares during the last quarter. North Reef Capital Management LP increased its stake 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 lifted its position in Alkami Technology by 24.2% during the 2nd 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 in the last quarter. Westfield Capital Management Co. LP lifted its position 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 worth $95,010,000 after buying an additional 1,023,297 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of 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 buying an additional 646,898 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

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