Alkami Technology, Inc. (NASDAQ:ALKT) Stock Rated “Hold” by Wall Street Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.80.

ALKT has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price objective on Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Citizens Jmp restated a “market outperform” rating and issued a $24.00 target price on shares of Alkami Technology in a research note on Thursday, September 24th. JPMorgan Chase & Co. lowered Alkami Technology from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $24.00 to $14.00 in a research note on Thursday, September 24th. Citigroup reaffirmed a “market outperform” rating on shares of Alkami Technology in a report on Thursday, September 24th. Finally, Barclays reduced their price target on shares of Alkami Technology from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in shares of Alkami Technology by 3,740.4% during the third quarter. Farther Finance Advisors LLC now owns 86,792 shares of the company’s stock worth $1,188,000 after purchasing an additional 84,532 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Alkami Technology by 22.9% in the third quarter. Congress Asset Management Co. now owns 511,425 shares of the company’s stock valued at $7,001,000 after purchasing an additional 95,449 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Alkami Technology by 46,900.0% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the company’s stock valued at $26,000 after purchasing an additional 1,407 shares in the last quarter. Corient Private Wealth LP raised its position in Alkami Technology by 24.9% in the 2nd quarter. Corient Private Wealth LP now owns 153,882 shares of the company’s stock worth $2,788,000 after purchasing an additional 30,698 shares during the last quarter. Finally, JANA Partners Management LP raised its position in Alkami Technology by 24.2% in the 2nd quarter. JANA Partners Management LP now owns 6,747,707 shares of the company’s stock worth $122,268,000 after purchasing an additional 1,316,319 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Price Performance

Shares of ALKT traded up $0.21 on Tuesday, hitting $14.30. The company’s stock had a trading volume of 193,514 shares, compared to its average volume of 1,797,832. The company has a market capitalization of $1.53 billion, a PE ratio of -34.13 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. Alkami Technology has a fifty-two week low of $13.20 and a fifty-two week high of $24.47. The company has a 50 day moving average price of $18.11 and a 200 day moving average price of $17.27.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%. The business had revenue of $129.84 million for the quarter, compared to the consensus estimate of $128.70 million. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, research analysts anticipate that Alkami Technology will post 0.15 earnings per share for the current fiscal year.

Alkami Technology Company Profile

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company’s products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.