Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 840,000 shares, a decrease of 11.1% from the August 15th total of 944,400 shares. Based on an average daily trading volume, of 267,500 shares, the short-interest ratio is currently 3.1 days. Approximately 1.8% of the company’s stock are sold short.
Alkami Technology Stock Up 2.3 %
Shares of Alkami Technology stock opened at $17.76 on Tuesday. The company has a market cap of $1.67 billion, a P/E ratio of -27.75 and a beta of 0.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.44 and a current ratio of 5.44. Alkami Technology has a one year low of $10.70 and a one year high of $18.17. The firm has a fifty day moving average of $16.73 and a two-hundred day moving average of $14.82.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $65.76 million during the quarter, compared to the consensus estimate of $62.94 million. Alkami Technology had a negative net margin of 25.43% and a negative return on equity of 19.61%. On average, analysts forecast that Alkami Technology will post -0.58 earnings per share for the current year.
Hedge Funds Weigh In On Alkami Technology
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Alkami Technology in a report on Wednesday, July 12th. They issued a “buy” rating and a $21.00 target price for the company. Citigroup increased their price target on shares of Alkami Technology from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Lake Street Capital initiated coverage on shares of Alkami Technology in a research note on Tuesday, June 27th. They set a “buy” rating and a $21.00 price target for the company. KeyCorp increased their price target on shares of Alkami Technology from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, Needham & Company LLC increased their price target on shares of Alkami Technology from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.13.
Alkami Technology Company Profile
Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.
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