Alkami Technology, Inc. (NASDAQ:ALKT) Stock Has Consensus Price Target of $20.80

Key Points

• Alkami Technology has a consensus “Hold” rating from eight analysts, with two sell, three hold, and three buy recommendations. The average 12-month price target is $20.80.
• Shares recently traded at $14.30, near the company’s 12-month low of $13.20 and below the 50-day and 200-day moving averages. Analyst views varied, with price targets ranging from $14 to $25.
• Alkami reported quarterly revenue of $129.84 million, slightly above estimates, but posted an EPS loss of $0.08 versus the expected $0.15 profit. Revenue increased 15.8% year over year, while profitability remained negative.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.80.

A number of brokerages have weighed in on ALKT. Needham & Company LLC increased their price target on shares of Alkami Technology from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 24th. JPMorgan Chase & Co. lowered shares of Alkami Technology from an "overweight" rating to an "underweight" rating and cut their price objective for the company from $24.00 to $14.00 in a research report on Thursday, September 24th. Barclays reduced their target price on shares of Alkami Technology from $21.00 to $15.00 and set an "equal weight" rating for the company in a research note on Monday. Citigroup reissued a "market outperform" rating on shares of Alkami Technology in a research report on Thursday, September 24th. Finally, Citizens Jmp restated a "market outperform" rating and set a $24.00 price target on shares of Alkami Technology in a research note on Thursday, September 24th.

Alkami Technology Stock Performance

NASDAQ:ALKT traded up $0.21 during mid-day trading on Tuesday, hitting $14.30. 193,514 shares of the company's stock traded hands, compared to its average volume of 1,797,832. The firm has a 50 day moving average of $18.11 and a two-hundred day moving average of $17.27. Alkami Technology has a 12 month low of $13.20 and a 12 month high of $24.47. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -34.13 and a beta of 0.60. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98.

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

Institutional Trading of Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Alkami Technology by 46,900.0% during the second quarter. IFP Advisors Inc now owns 1,410 shares of the company's stock valued at $26,000 after purchasing an additional 1,407 shares in the last quarter. Summit Securities Group LLC lifted its position in shares of Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock worth $29,000 after buying an additional 842 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Alkami Technology in the 1st quarter valued at $36,000. Essential Partners LLC boosted its position in Alkami Technology by 7,090.9% in the first quarter. Essential Partners LLC now owns 2,373 shares of the company's stock valued at $37,000 after buying an additional 2,340 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Alkami Technology by 456.7% during the first quarter. Fifth Third Bancorp now owns 6,190 shares of the company's stock worth $97,000 after buying an additional 5,078 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

About Alkami Technology

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company's products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.

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