Alkami Technology (NASDAQ:ALKT) Price Target Raised to $25.00 at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price objective raised by stock analysts at Needham & Company LLC from $22.00 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 22.67% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Citizens Jmp cut their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alkami Technology presently has a consensus rating of “Hold” and an average target price of $22.80.

Alkami Technology Price Performance

ALKT opened at $20.38 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. The company’s 50 day simple moving average is $17.93 and its 200-day simple moving average is $17.14. Alkami Technology has a one year low of $13.98 and a one year high of $26.89. The stock has a market capitalization of $2.18 billion, a P/E ratio of -48.52 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). The firm had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share. Sell-side analysts anticipate that Alkami Technology will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of ALKT. California State Teachers Retirement System lifted its holdings in Alkami Technology by 1,664.8% during the 2nd quarter. California State Teachers Retirement System now owns 1,718,809 shares of the company’s stock valued at $31,145,000 after purchasing an additional 1,621,413 shares during the last quarter. JANA Partners Management LP grew its stake 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 valued at $122,268,000 after buying an additional 1,316,319 shares during the last quarter. Headlands Technologies LLC grew its stake in Alkami Technology by 186.2% in the 2nd quarter. Headlands Technologies LLC now owns 34,932 shares of the company’s stock valued at $633,000 after buying an additional 22,728 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Alkami Technology in the 2nd quarter valued at about $2,716,000. Finally, Bluefin Capital Management LLC acquired a new stake in Alkami Technology during the second quarter worth approximately $2,677,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Company Profile

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.