Alkami Technology’s (ALKT) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Thursday,Benzinga reports. The firm currently has a $40.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC lowered their price target on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. dropped their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group lowered their price target on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Stock Performance

Shares of ALKT opened at $21.19 on Thursday. The company has a market capitalization of $2.22 billion, a PE ratio of -49.28 and a beta of 0.53. 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 company has a 50-day simple moving average of $21.86 and a 200-day simple moving average of $23.04. Alkami Technology has a 52-week low of $18.71 and a 52-week high of $36.85.

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

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Hedge funds have recently added to or reduced their stakes in the company. General Atlantic L.P. raised its position in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after buying an additional 2,346,162 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of 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 valued at $76,881,000 after buying an additional 1,904,474 shares during the period. JANA Partners Management LP bought a new position in Alkami Technology during the third quarter worth $47,008,000. Long Path Partners LP lifted its stake in shares of Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after purchasing 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% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after acquiring an additional 1,394,617 shares in the last quarter. 54.97% of the stock is 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.