Shares of Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.67.
A number of research analysts have recently commented on the stock. KeyCorp reduced their target price on shares of Alkami Technology from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Stephens assumed coverage on shares of Alkami Technology in a research report on Wednesday, September 14th. They set an “overweight” rating and a $18.00 target price on the stock. Needham & Company LLC boosted their target price on shares of Alkami Technology from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Citigroup reduced their target price on shares of Alkami Technology from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Finally, Barclays boosted their target price on shares of Alkami Technology from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th.
Alkami Technology Price Performance
ALKT opened at $15.64 on Friday. The company has a quick ratio of 6.97, a current ratio of 6.97 and a debt-to-equity ratio of 0.25. Alkami Technology has a 52-week low of $9.23 and a 52-week high of $32.50. The company has a 50 day moving average of $15.11 and a two-hundred day moving average of $13.73. The company has a market cap of $1.42 billion, a P/E ratio of -24.06 and a beta of 0.16.
Alkami Technology (NASDAQ:ALKT – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Alkami Technology had a negative return on equity of 15.72% and a negative net margin of 32.79%. The business had revenue of $50.53 million for the quarter, compared to analysts’ expectations of $47.98 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. On average, analysts expect that Alkami Technology will post -0.74 earnings per share for the current year.
Institutional Trading of Alkami Technology
Several institutional investors have recently added to or reduced their stakes in ALKT. Long Path Partners Fund LP acquired a new stake in Alkami Technology in the first quarter valued at $25,297,000. Driehaus Capital Management LLC acquired a new stake in shares of Alkami Technology during the second quarter worth $7,665,000. Renaissance Technologies LLC acquired a new stake in shares of Alkami Technology during the first quarter worth $3,062,000. Pembroke Management LTD acquired a new stake in shares of Alkami Technology during the first quarter worth $2,411,000. Finally, Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 3.4% during the first quarter. Vanguard Group Inc. now owns 2,841,483 shares of the company’s stock worth $40,662,000 after purchasing an additional 92,155 shares during the period. 52.74% of the stock is owned by institutional investors and hedge funds.
Alkami Technology Company Profile
Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company’s platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.
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