Alkami Technology, Inc. (NASDAQ:ALKT) Receives $36.00 Consensus Price Target from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $36.00.

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, October 8th. The Goldman Sachs Group lowered their target price 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. Barclays dropped their price target on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. Needham & Company LLC decreased their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Citizens Jmp lowered their price objective on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 31st.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the sale, the insider owned 221,751 shares in the company, valued at $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Alkami Technology by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company’s stock valued at $208,676,000 after buying an additional 501,722 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alkami Technology by 4.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 624,107 shares of the company’s stock worth $16,383,000 after acquiring an additional 24,906 shares during the period. Swiss National Bank raised its holdings in Alkami Technology by 18.2% in the 1st quarter. Swiss National Bank now owns 126,600 shares of the company’s stock valued at $3,323,000 after acquiring an additional 19,500 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Alkami Technology by 874.9% during the 1st quarter. Raymond James Financial Inc. now owns 301,244 shares of the company’s stock valued at $7,908,000 after acquiring an additional 270,343 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Alkami Technology by 14.1% during the 1st quarter. Northern Trust Corp now owns 744,271 shares of the company’s stock worth $19,537,000 after purchasing an additional 92,165 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Down 0.9%

ALKT stock opened at $23.08 on Wednesday. Alkami Technology has a one year low of $18.71 and a one year high of $40.39. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -53.67 and a beta of 0.54. The company has a fifty day moving average price of $21.59 and a two-hundred day moving average price of $24.43. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17.

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

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.