Alkami Technology’s (ALKT) Outperform Rating Reiterated at William Blair

William Blair reissued their outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research note published on Thursday morning, RTT News reports.

Several other analysts have also weighed in on the stock. KeyCorp raised their price objective on shares of Alkami Technology from $15.00 to $19.00 and gave the stock an overweight rating in a report on Friday, August 4th. Needham & Company LLC raised their price target on shares of Alkami Technology from $20.00 to $21.00 and gave the company a buy rating in a report on Thursday, August 3rd. Barclays boosted their price objective on Alkami Technology from $18.00 to $19.00 and gave the stock an equal weight rating in a report on Thursday, August 3rd. The Goldman Sachs Group began coverage on shares of Alkami Technology in a research report on Wednesday, July 12th. They set a buy rating and a $21.00 price target for the company. Finally, Citigroup lifted their price target on shares of Alkami Technology from $19.00 to $20.00 and gave the stock a buy rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Alkami Technology has a consensus rating of Moderate Buy and a consensus target price of $21.67.

Alkami Technology Trading Up 3.1 %

Shares of ALKT stock opened at $20.01 on Thursday. Alkami Technology has a 52-week low of $10.70 and a 52-week high of $21.24. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -34.50 and a beta of 0.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.44 and a current ratio of 5.44. The firm has a fifty day moving average of $17.78 and a 200-day moving average of $16.01.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Alkami Technology had a negative net margin of 22.13% and a negative return on equity of 18.45%. The company had revenue of $65.76 million during the quarter, compared to analysts’ expectations of $62.94 million. On average, equities research analysts forecast that Alkami Technology will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Credit Suisse AG boosted its holdings in shares of Alkami Technology by 7.0% in the second quarter. Credit Suisse AG now owns 12,515 shares of the company’s stock valued at $174,000 after buying an additional 818 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alkami Technology by 7.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,191 shares of the company’s stock valued at $205,000 after buying an additional 1,142 shares during the period. M&T Bank Corp boosted its holdings in shares of Alkami Technology by 1.7% in the third quarter. M&T Bank Corp now owns 70,192 shares of the company’s stock valued at $1,056,000 after buying an additional 1,196 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Alkami Technology by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 16,946 shares of the company’s stock valued at $278,000 after buying an additional 1,283 shares during the period. Finally, Ensign Peak Advisors Inc lifted its position in shares of Alkami Technology by 84.1% in the third quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company’s stock worth $43,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 52.74% of the company’s stock.

About Alkami Technology

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