Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of "Hold" from 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 $23.80, while JPMorgan and Needham recently raised their targets to $24 and $25, respectively.
• Institutional investors own approximately 54.97% of the company, with several major funds increasing their positions and new investors taking stakes.
• Shares recently fell 1.4% to $18.50. Alkami’s latest quarterly revenue rose 15.8% year over year to $129.84 million, but its adjusted loss of $0.08 per share missed analyst expectations of $0.15 in earnings.

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have received an average rating of "Hold" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.80.

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

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Alkami Technology by 5.7% during the first quarter. Bank of America Corp DE now owns 1,132,794 shares of the company's stock worth $17,751,000 after purchasing an additional 61,501 shares during the last quarter. Irenic Capital Management LP acquired a new position in Alkami Technology during the fourth quarter worth approximately $48,596,000. Praesidium Investment Management Company LLC lifted its stake in Alkami Technology by 13.4% in the fourth quarter. Praesidium Investment Management Company LLC now owns 2,287,096 shares of the company's stock valued at $52,763,000 after buying an additional 269,524 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of 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 period. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Alkami Technology during the second quarter worth approximately $2,205,000. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Down 1.4%

Alkami Technology stock traded down $0.26 during trading on Friday, reaching $18.50. 121,371 shares of the company were exchanged, compared to its average volume of 1,753,930. Alkami Technology has a 52-week low of $13.98 and a 52-week high of $26.89. The company has a market capitalization of $1.98 billion, a P/E ratio of -44.05 and a beta of 0.61. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock's 50 day simple moving average is $19.07 and its two-hundred day simple moving average is $17.56.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.