Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts are cautious on Alkami Technology: The stock has a consensus rating of “Hold” from seven research firms, with one sell, three hold, and three buy ratings. The average 1-year price target is $22.80.
• Recent earnings showed mixed results: Alkami reported EPS of -$0.09, missing estimates, while revenue came in at $126.14 million, slightly above forecasts and up 28.9% year over year.
• Insiders and institutions have been active buyers: Director Atlantic L.P. General bought 900,000 shares, and institutional ownership stands at 54.97%. Large funds including General Atlantic and Vanguard increased their stakes in recent periods.

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

A number of brokerages recently issued reports on ALKT. Needham & Company LLC decreased their price target on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Barclays decreased their price target on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. decreased their target price on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Citizens Jmp decreased their target price on 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.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic L.P. General bought 900,000 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $18.41 per share, with a total value of $16,569,000.00. Following the transaction, the director directly owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. This trade represents a 6.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph P. Payne bought 5,500 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $18.23 per share, with a total value of $100,265.00. Following the completion of the transaction, the director owned 26,628 shares in the company, valued at $485,428.44. This represents a 26.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 7,393,058 shares of company stock valued at $127,424,086 and sold 13,739 shares valued at $232,189. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. General Atlantic L.P. raised its position in Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company's stock valued at $297,868,000 after purchasing an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company's stock valued at $194,121,000 after acquiring an additional 456,275 shares during the period. North Reef Capital Management LP increased its holdings in shares of 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 acquiring an additional 5,550,000 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Alkami Technology by 33.1% in 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 acquiring an additional 1,023,297 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of Alkami Technology by 56.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company's stock valued at $96,202,000 after acquiring an additional 1,394,617 shares during the period. 54.97% of the stock is owned by institutional investors.

Alkami Technology Price Performance

Shares of ALKT stock opened at $16.61 on Friday. Alkami Technology has a 52-week low of $14.11 and a 52-week high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a market capitalization of $1.78 billion, a P/E ratio of -35.34 and a beta of 0.54. The stock has a 50 day moving average price of $16.79 and a 200 day moving average price of $19.12.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same period in the prior year, the business posted $0.08 earnings per share. Alkami Technology's revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts predict that Alkami Technology will post 0.18 earnings per share for the current year.

About Alkami Technology

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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