Alkami Technology (NASDAQ:ALKT) Price Target Raised to $24.00

Alkami Technology (NASDAQ:ALKT) had its target price hoisted by JPMorgan Chase & Co. from $19.00 to $24.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Citizens Jmp dropped their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Needham & Company LLC lifted their target price on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.80.

Alkami Technology Stock Up 1.1%

ALKT stock opened at $20.35 on Monday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -48.45 and a beta of 0.58. Alkami Technology has a 1-year low of $13.98 and a 1-year high of $26.89. The firm has a fifty day moving average price of $18.23 and a two-hundred day moving average price of $17.21. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The business had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Research analysts predict that Alkami Technology will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors have recently modified their holdings of the company. Amundi increased its position in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Alkami Technology by 32.4% in the 1st 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 in the last quarter. Legal & General Group Plc lifted its position in shares of Alkami Technology by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock valued at $2,113,000 after acquiring an additional 691 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after purchasing an additional 692 shares during the period. Finally, Summit Securities Group LLC boosted its stake in Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after purchasing an additional 842 shares during the period. Institutional investors 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.