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

Alkami Technology, Inc. (NASDAQ:ALKTGet Rating) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.67.

A number of equities analysts have recently commented on ALKT shares. Barclays lifted their price target on shares of Alkami Technology from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Citigroup cut their price target on shares of Alkami Technology from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Needham & Company LLC lifted their price target on shares of Alkami Technology from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. KeyCorp cut their price target on shares of Alkami Technology from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Finally, Stephens initiated coverage on shares of Alkami Technology in a report on Wednesday, September 14th. They issued an “overweight” rating and a $18.00 target price on the stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $14.95 on Wednesday. The firm’s fifty day moving average price is $14.60 and its two-hundred day moving average price is $13.61. The stock has a market cap of $1.36 billion, a PE ratio of -23.00 and a beta of 0.40. Alkami Technology has a fifty-two week low of $9.23 and a fifty-two week high of $32.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.97 and a current ratio of 6.97.

Alkami Technology (NASDAQ:ALKTGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $50.53 million for the quarter, compared to the consensus estimate of $47.98 million. Alkami Technology had a negative return on equity of 15.72% and a negative net margin of 32.79%. During the same period in the previous year, the firm posted ($0.12) EPS. On average, equities analysts expect that Alkami Technology will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently made changes to their positions in ALKT. Long Path Partners Fund LP purchased a new stake in shares of Alkami Technology in the 1st quarter worth about $25,297,000. D1 Capital Partners L.P. lifted its holdings in shares of Alkami Technology by 10.5% in the fourth quarter. D1 Capital Partners L.P. now owns 5,828,511 shares of the company’s stock worth $116,920,000 after buying an additional 553,511 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Alkami Technology in the second quarter worth $7,665,000. Renaissance Technologies LLC purchased a new stake in Alkami Technology during the first quarter valued at $3,062,000. Finally, Pembroke Management LTD bought a new position in Alkami Technology during the first quarter valued at $2,411,000. Institutional investors own 52.74% of the company’s stock.

About Alkami Technology

(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.

Further Reading

Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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