Alkami Technology (NASDAQ:ALKT) Price Target Cut to $28.00 by Analysts at Citizens Jmp

Alkami Technology (NASDAQ:ALKT) had its target price dropped by analysts at Citizens Jmp from $40.00 to $28.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 84.28% from the company’s current price.

Several other equities analysts have also recently weighed in on ALKT. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. The Goldman Sachs Group dropped their price target on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Zacks Research cut Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.14.

Alkami Technology Stock Performance

NASDAQ:ALKT traded down $1.18 during midday trading on Thursday, reaching $15.19. The stock had a trading volume of 769,935 shares, compared to its average volume of 1,855,588. Alkami Technology has a 1-year low of $14.11 and a 1-year high of $31.66. The firm’s fifty day simple moving average is $20.17 and its 200-day simple moving average is $22.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $1.60 billion, a P/E ratio of -35.29 and a beta of 0.53.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.26). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The firm had revenue of $120.79 million for the quarter, compared to analyst estimates of $120.14 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Activity

In related 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 completion of the transaction, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in shares of Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Alkami Technology during the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC increased its stake in Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares during the period. EverSource Wealth Advisors LLC raised its position in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Alkami Technology during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.