Alkami Technology (NASDAQ:ALKT) Announces Quarterly Earnings Results

Alkami Technology (NASDAQ:ALKT) released its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30), FiscalAI reports. Alkami Technology had a negative return on equity of 7.02% and a negative net margin of 10.74%.The company had revenue of $126.14 million for the quarter, compared to analyst estimates of $125.23 million.

Alkami Technology Price Performance

Shares of ALKT stock traded up $0.15 during trading hours on Wednesday, hitting $16.42. 2,229,277 shares of the company’s stock were exchanged, compared to its average volume of 1,890,188. The stock’s 50-day moving average is $16.70 and its 200-day moving average is $19.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -35.70 and a beta of 0.57. Alkami Technology has a 52 week low of $14.11 and a 52 week high of $31.66.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 5,518 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $93,254.20. Following the sale, the insider owned 216,233 shares in the company, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cassandra Hudson sold 6,869 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $116,086.10. Following the sale, the chief financial officer owned 286,757 shares in the company, valued at $4,846,193.30. The trade was a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Alkami Technology

Several large investors have recently made changes to their positions in ALKT. Amundi lifted its stake in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after acquiring an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares during the period. Millennium Management LLC lifted its stake in shares of Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after acquiring an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after acquiring an additional 71,949 shares during the period. Institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALKT. Citizens Jmp dropped their price objective on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Barclays dropped their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Finally, Needham & Company LLC decreased their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alkami Technology currently has an average rating of “Hold” and a consensus target price of $26.67.

About Alkami Technology

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.