Cibc World Market Inc. Takes Position in Alkami Technology, Inc. $ALKT

Key Points

• Cibc World Market Inc. acquired 132,250 shares of Alkami Technology in the second quarter, worth approximately $2.4 million and representing 0.12% of the company. Institutional investors collectively own 54.97% of Alkami’s stock.
• Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year and slightly above estimates, but its adjusted loss of $0.08 per share missed consensus expectations of $0.15 in earnings.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating. The stock has an average rating of “Hold” and an average price target of $23.80, compared with a recent price of $20.35.

Cibc World Market Inc. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 132,250 shares of the company's stock, valued at approximately $2,396,000. Cibc World Market Inc. owned 0.12% of Alkami Technology as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. North Reef Capital Management LP boosted its stake in Alkami Technology by 264.3% in the first 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. Irenic Capital Management LP acquired a new stake in shares of Alkami Technology in the fourth quarter valued at $48,596,000. Cadian Capital Management LP acquired a new stake in shares of Alkami Technology in the fourth quarter valued at $26,969,000. Westfield Capital Management Co. LP grew its holdings in Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock worth $95,010,000 after acquiring an additional 1,023,297 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Alkami Technology by 40.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,208,436 shares of the company's stock valued at $74,019,000 after acquiring an additional 921,055 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Up 1.1%

ALKT opened at $20.35 on Thursday. The stock has a market capitalization of $2.18 billion, a P/E ratio of -48.45 and a beta of 0.58. 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, Inc. has a 12 month low of $13.98 and a 12 month high of $26.89. The firm's fifty day simple moving average is $18.23 and its 200 day simple moving average is $17.21.

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 analysts' consensus estimates of $0.15 by ($0.23). The firm had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, research analysts anticipate that Alkami Technology, Inc. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALKT shares. Citizens Jmp dropped 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. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alkami Technology in a report on Friday, June 5th. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $19.00 to $24.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Needham & Company LLC boosted their price objective on Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Monday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.80.

Alkami Technology Profile

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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