Alkami Technology, Inc. (NASDAQ:ALKT) Stock Has Average Price Target of $17.60

Key Points

• Analyst sentiment is mostly cautious: Nine firms give Alkami Technology an average “Reduce” rating—two sell, six hold and one buy—with an average 12-month price target of $17.60. Several brokerages recently downgraded the stock or lowered their targets.
• Quarterly results were mixed: Alkami reported a loss of $0.06 per share, missing the $0.20 consensus estimate, while revenue of $134.91 million topped forecasts and rose 19.4% year over year.
• Shares traded at $13.41, near the company’s 52-week low of $12.10; the 52-week high is $24.47.

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have been assigned an average recommendation of "Reduce" from the nine research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $17.60.

Several brokerages have recently issued reports on ALKT. William Blair cut Alkami Technology from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 29th. Barclays cut their price objective on Alkami Technology from $21.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, October 12th. Needham & Company LLC decreased their target price on Alkami Technology from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Citizens Jmp cut Alkami Technology from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. lowered 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.

Alkami Technology Price Performance

ALKT stock traded up $0.06 during trading on Friday, hitting $13.41. The company had a trading volume of 1,515,354 shares, compared to its average volume of 2,436,389. The business has a 50 day moving average of $15.92 and a 200 day moving average of $17.09. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -39.44 and a beta of 0.52. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.99. Alkami Technology has a fifty-two week low of $12.10 and a fifty-two week high of $24.47.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.26). The company had revenue of $134.91 million during the quarter, compared to analyst estimates of $133.54 million. Alkami Technology had a negative return on equity of 4.75% and a negative net margin of 7.24%. The company's revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. As a group, research analysts predict that Alkami Technology will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in ALKT. North Reef Capital Management LP raised 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 worth $119,876,000 after purchasing an additional 5,550,000 shares in the last quarter. JANA Partners Management LP lifted its position in shares of Alkami Technology by 24.2% during the 2nd quarter. JANA Partners Management LP now owns 6,747,707 shares of the company's stock valued at $122,268,000 after acquiring an additional 1,316,319 shares during the last quarter. Janus Henderson Group PLC lifted its position 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 valued at $60,413,000 after acquiring an additional 646,898 shares during the last quarter. Irenic Capital Management LP lifted its position in shares of Alkami Technology by 27.0% during the 1st quarter. Irenic Capital Management LP now owns 2,675,151 shares of the company's stock valued at $41,920,000 after acquiring an additional 568,703 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Alkami Technology during the 2nd quarter worth $46,927,000. Institutional investors own 54.97% of the company's stock.

About Alkami Technology

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions, primarily community banks and credit unions in the United States. Its platform is designed to help institutions deliver digital experiences across online and mobile channels while managing customer relationships and banking operations.

The company's products and services include digital account opening, online and mobile banking, payments, money movement, card management, financial wellness tools, data and analytics, marketing capabilities, and fraud prevention.

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