Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Alkami Technology (NASDAQ:ALKTGet Rating) posted its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01, MarketWatch Earnings reports. The firm had revenue of $44.79 million for the quarter, compared to analysts’ expectations of $43.90 million. Alkami Technology had a negative net margin of 30.77% and a negative return on equity of 19.88%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter last year, the company posted ($1.30) EPS.

Shares of ALKT stock traded down $0.27 during mid-day trading on Friday, reaching $11.44. The stock had a trading volume of 718,770 shares, compared to its average volume of 262,055. The stock’s 50-day moving average price is $13.49 and its two-hundred day moving average price is $18.35. Alkami Technology has a 52-week low of $10.57 and a 52-week high of $42.32. The firm has a market capitalization of $1.03 billion and a PE ratio of -19.72. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.07.

Several hedge funds have recently added to or reduced their stakes in ALKT. BlackRock Inc. boosted its stake in shares of Alkami Technology by 100.8% during the 4th quarter. BlackRock Inc. now owns 1,888,443 shares of the company’s stock valued at $37,882,000 after purchasing an additional 947,999 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alkami Technology by 240.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 120,751 shares of the company’s stock valued at $2,422,000 after purchasing an additional 85,307 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Alkami Technology during the 4th quarter valued at about $268,000. Deutsche Bank AG boosted its stake in shares of Alkami Technology by 95.2% during the 4th quarter. Deutsche Bank AG now owns 18,152 shares of the company’s stock valued at $364,000 after purchasing an additional 8,855 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Alkami Technology by 708.4% during the 4th quarter. California State Teachers Retirement System now owns 30,210 shares of the company’s stock valued at $606,000 after purchasing an additional 26,473 shares in the last quarter. Hedge funds and other institutional investors own 49.50% of the company’s stock.

ALKT has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Alkami Technology from $33.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 19th. Needham & Company LLC decreased their target price on shares of Alkami Technology from $40.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 24th. KeyCorp decreased their target price on shares of Alkami Technology from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 25th. Finally, Zacks Investment Research upgraded shares of Alkami Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.63.

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.

See Also

Earnings History for Alkami Technology (NASDAQ:ALKT)

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