Citizens Jmp Reaffirms “Market Outperform” Rating for Alkami Technology (NASDAQ:ALKT)

Alkami Technology (NASDAQ:ALKT)‘s stock had its “market outperform” rating reaffirmed by research analysts at Citizens Jmp in a research report issued on Thursday,Benzinga reports. They presently have a $40.00 target price on the stock. Citizens Jmp’s price target indicates a potential upside of 78.49% from the company’s current price.

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

Alkami Technology Trading Up 6.2%

Shares of Alkami Technology stock opened at $22.41 on Thursday. Alkami Technology has a twelve month low of $18.71 and a twelve month high of $36.96. The firm’s 50-day moving average price is $21.86 and its 200 day moving average price is $23.14. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $2.35 billion, a PE ratio of -52.12 and a beta of 0.53.

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

Insider Activity at Alkami Technology

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

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. CWM LLC increased its position in shares of Alkami Technology by 176.2% during the second quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after acquiring an additional 601 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the last quarter. First Horizon Corp purchased a new position in shares of Alkami Technology during the 3rd quarter worth approximately $30,000. Assetmark Inc. acquired a new stake in Alkami Technology in the 2nd quarter valued at approximately $44,000. Finally, AlphaQuest LLC raised its position in Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after purchasing an additional 544 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.