Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $22.20

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $22.20.

ALKT has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. JPMorgan Chase & Co. cut their target price on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Finally, Citizens Jmp reduced their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $17.71 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1.90 billion, a P/E ratio of -37.68 and a beta of 0.57. Alkami Technology has a 12-month low of $13.98 and a 12-month high of $30.88. The firm has a 50-day moving average price of $16.70 and a two-hundred day moving average price of $17.86.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. Analysts anticipate that Alkami Technology will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Atlantic Genpar (Bermu General acquired 844,772 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the transaction, the director directly owned 17,445,994 shares of the company’s stock, valued at $290,126,880.22. This trade represents a 5.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 4,041,543 shares of company stock valued at $67,594,674 over the last three months. 17.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

A number of institutional investors and hedge funds have recently made changes to their positions in ALKT. Summit Securities Group LLC increased its stake in Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after buying an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Alkami Technology during the 1st quarter worth $36,000. Finally, Essential Partners LLC lifted its position in shares of Alkami Technology by 7,090.9% during the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after buying an additional 2,340 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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.