Alkami Technology (NASDAQ:ALKT) Posts Earnings Results

Key Points

• Alkami Technology missed earnings expectations: The company reported a quarterly loss of $0.06 per share, well below the $0.20 consensus estimate, while revenue of $134.91 million slightly exceeded forecasts.
• Shares traded around $15.53, near the lower end of their 12-month range of $13.20 to $24.47. Alkami reported a negative net margin of 9.21% and negative return on equity of 7.68%.
• Analyst sentiment is mixed: The stock carries a consensus “Hold” rating and a $20.80 price target, with recent target cuts and a downgrade from JPMorgan partially offset by Buy or “market outperform” ratings from other firms.

Alkami Technology (NASDAQ:ALKT - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.26), FiscalAI reports. Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%. The business had revenue of $134.91 million for the quarter, compared to analyst estimates of $133.54 million.

Alkami Technology Price Performance

Shares of Alkami Technology stock traded up $0.17 during midday trading on Wednesday, hitting $15.53. 1,914,915 shares of the company traded hands, compared to its average volume of 1,831,839. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -36.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. The firm's fifty day moving average price is $17.01 and its 200-day moving average price is $17.40. Alkami Technology has a 12 month low of $13.20 and a 12 month high of $24.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALKT shares. Citigroup reissued a "market outperform" rating on shares of Alkami Technology in a research report on Thursday, September 24th. Barclays dropped 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. JPMorgan Chase & Co. downgraded Alkami Technology from an "overweight" rating to an "underweight" rating and cut their target price for the company from $24.00 to $14.00 in a research report on Thursday, September 24th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $24.00 price target on shares of Alkami Technology in a research note on Thursday, September 24th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.80.

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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