Alkami Technology (NASDAQ:ALKT) Receives Market Outperform Rating from Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research note released on Thursday morning,Benzinga reports. Citizens Jmp currently has a $40.00 price objective on the stock.

ALKT has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Needham & Company LLC reduced their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. The Goldman Sachs Group lowered their target price on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Barclays dropped their target price 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. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $21.19 on Thursday. The firm has a market capitalization of $2.22 billion, a P/E ratio of -49.28 and a beta of 0.53. The firm’s 50-day moving average price is $21.86 and its 200-day moving average price is $23.13. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. Alkami Technology has a 1-year low of $18.71 and a 1-year high of $36.96.

Alkami Technology (NASDAQ:ALKT) last issued 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). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The firm had revenue of $112.95 million during the quarter, compared to the consensus estimate of $113.48 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. Equities research analysts anticipate 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 that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the transaction, the insider directly owned 221,751 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 18.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. General Atlantic L.P. raised its stake in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after purchasing an additional 2,346,162 shares during the period. Westfield Capital Management Co. LP raised its position in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after acquiring an additional 1,904,474 shares during the period. JANA Partners Management LP purchased a new position in Alkami Technology in the third quarter valued at about $47,008,000. Long Path Partners LP grew 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 period. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after purchasing an additional 1,394,617 shares during the last quarter. Institutional investors 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.