Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $18.09, but opened at $15.69. Alkami Technology shares last traded at $14.6260, with a volume of 1,208,139 shares.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ALKT. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. 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, JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Alkami Technology presently has a consensus rating of "Hold" and an average target price of $23.80.
Read Our Latest Report on Alkami Technology
Alkami Technology Stock Performance
The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.58 billion, a P/E ratio of -35.15 and a beta of 0.61. The business's 50 day simple moving average is $19.15 and its two-hundred day simple moving average is $17.60.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its 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 net margin of 9.21% and a negative return on equity of 7.68%. The business had revenue of $129.84 million for the quarter, compared to analysts' expectations of $128.70 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that Alkami Technology, Inc. will post 0.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Alkami Technology by 46,900.0% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the company's stock worth $26,000 after purchasing an additional 1,407 shares during the last quarter. Summit Securities Group LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 842 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of Alkami Technology during the 1st quarter valued at $36,000. Essential Partners LLC boosted its position in shares of Alkami Technology by 7,090.9% in the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company's stock worth $37,000 after purchasing an additional 2,340 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Alkami Technology by 456.7% in the 1st quarter. Fifth Third Bancorp now owns 6,190 shares of the company's stock worth $97,000 after purchasing an additional 5,078 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.
About Alkami Technology
(
Get Free Report)
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.
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