Citizens Jmp Reaffirms Market Outperform Rating for Alkami Technology (NASDAQ:ALKT)

Alkami Technology (NASDAQ:ALKT)‘s stock had its “market outperform” rating reiterated by investment analysts at Citizens Jmp in a research note issued to investors on Thursday,Benzinga reports. They presently have a $40.00 target price on the stock. Citizens Jmp’s price target would indicate a potential upside of 88.77% from the stock’s current price.

Several other analysts have also weighed in on the stock. Barclays decreased their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Needham & Company LLC decreased their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group dropped their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price target on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Price Performance

Shares of ALKT stock opened at $21.19 on Thursday. Alkami Technology has a 12 month low of $18.71 and a 12 month high of $36.85. The company has a market capitalization of $2.22 billion, a P/E ratio of -49.28 and a beta of 0.53. The stock has a 50 day moving average of $21.86 and a two-hundred day moving average of $23.07. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, October 30th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The firm had revenue of $112.95 million during the quarter, compared to analyst estimates of $113.48 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. As a group, equities analysts expect that Alkami Technology will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. General Atlantic L.P. raised its position in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after purchasing an additional 2,346,162 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after buying an additional 456,275 shares during the period. ArrowMark Colorado Holdings LLC raised its position in shares of Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after acquiring an additional 1,394,617 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Alkami Technology by 13.3% during the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after acquiring an additional 430,632 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after acquiring an additional 1,904,474 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Company 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.