Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of “Buy” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKTGet Rating) has received a consensus recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $36.63.

A number of research firms have weighed in on ALKT. Needham & Company LLC decreased their price target on shares of Alkami Technology from $40.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. Zacks Investment Research downgraded shares of Alkami Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 2nd. KeyCorp decreased their price target on shares of Alkami Technology from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 25th. Finally, Barclays decreased their price target on shares of Alkami Technology from $33.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 19th.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of Alkami Technology by 116.4% in the third quarter. Royal Bank of Canada now owns 1,032 shares of the company’s stock valued at $26,000 after buying an additional 555 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Alkami Technology in the third quarter valued at about $31,000. Lindbrook Capital LLC bought a new position in shares of Alkami Technology in the fourth quarter valued at about $52,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Alkami Technology in the fourth quarter valued at about $113,000. Finally, Legal & General Group Plc raised its holdings in shares of Alkami Technology by 882.6% in the fourth quarter. Legal & General Group Plc now owns 7,075 shares of the company’s stock valued at $142,000 after buying an additional 6,355 shares during the last quarter. 45.18% of the stock is owned by institutional investors.

NASDAQ ALKT opened at $11.86 on Monday. Alkami Technology has a twelve month low of $11.60 and a twelve month high of $48.28. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.07 billion and a PE ratio of -4.88. The business’s 50-day simple moving average is $14.00.

Alkami Technology (NASDAQ:ALKTGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). Alkami Technology had a negative return on equity of 19.88% and a negative net margin of 30.77%. The business had revenue of $42.44 million for the quarter, compared to analyst estimates of $41.00 million. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alkami Technology will post -0.48 earnings per share for the current fiscal year.

Alkami Technology Company Profile (Get Rating)

Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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