Alkami Technology, Inc. (NASDAQ:ALKT) Receives $36.00 Consensus Price Target from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.00.

Several equities research analysts recently weighed in on ALKT shares. JPMorgan Chase & Co. dropped their price objective on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Citizens Jmp dropped their price target on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 31st. Barclays cut their price target on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st.

Alkami Technology Stock Down 0.7%

Shares of Alkami Technology stock opened at $21.80 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The firm has a market cap of $2.29 billion, a P/E ratio of -50.70 and a beta of 0.53. Alkami Technology has a fifty-two week low of $18.71 and a fifty-two week high of $36.96. The business has a 50-day moving average price of $21.71 and a 200 day moving average price of $23.81.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, October 30th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). The firm had revenue of $112.95 million for the quarter, compared to the consensus estimate of $113.48 million. Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The company’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS. On average, sell-side analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the transaction, the insider owned 221,751 shares in the company, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in Alkami Technology by 735.1% during the fourth quarter. SG Americas Securities LLC now owns 213,979 shares of the company’s stock valued at $4,936,000 after purchasing an additional 188,357 shares during the last quarter. Diversified Trust Co. grew its position in Alkami Technology by 21.0% in the fourth quarter. Diversified Trust Co. now owns 41,117 shares of the company’s stock worth $949,000 after buying an additional 7,143 shares during the last quarter. Penbrook Management LLC increased its holdings in shares of Alkami Technology by 2.9% in the fourth quarter. Penbrook Management LLC now owns 127,685 shares of the company’s stock valued at $2,946,000 after buying an additional 3,545 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Alkami Technology in the third quarter valued at $2,609,000. Finally, Long Path Partners LP lifted its position in shares of Alkami Technology by 138.2% during the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after acquiring an additional 1,490,357 shares during the last quarter. Institutional investors and hedge funds 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.