Shares of Alkami Technology, Inc. (NASDAQ: ALKT – Get Rating) have a “Moderate Buy” consensus rating from the six rating firms that cover the company, according to Marketbeat. One research analyst has a hold recommendation on the stock, and five analysts have a buy recommendation on the company. Analysts who issued ratings on the stock last year have an average 12-month price target of $21.67.
Several research analysts have commented on the stock recently. KeyCorp lowered its price target on Alkami Technology stock to $18.00 from $20.00 and rated the stock an “overweight” in a research note on Thursday, July 7. Stephens hypothesized Alkami Technology stock in a research note on Wednesday, Sept. 14. They have an “overweight” rating and $18.00 price target on the stock. Needham & Company LLC raised its price target on Alkami Technology stock to $20.00 from $17.00 and gave the stock a “buy” rating in a research note on Thursday, Aug. 4. Citigroup lowered its price target on Alkami Technology stock to $18.00 from $32.00 and assigned a “buy” rating to the stock in a research note on Tuesday, June 21. Finally, Barclays raised its price target on Alkami Technology stock to $16.00 from $15.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock.
Alkami Technology Price Performance
ALKT opened Friday at $15.64. The company has a quick ratio of 6.97, a current ratio of 6.97, and a debt-to-equity ratio of 0.25. Alkami Technology’s 52-week low was $9.23 and its 52-week high was $32.50. The company has a 50-day moving average of $15.11 and a 200-day moving average of $13.73. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -24.06, and a beta of 0.16.
Alkami Technology (NASDAQ: ALKT – Get Rating) last reported quarterly earnings numbers on Wednesday, Aug. 3. The company reported earnings per share (EPS) for the quarter ($0.20), missing consensus estimates of ($0.19) ($0.01). Alkami Technology’s return on equity was negative 15.72% and its net profit margin was negative 32.79%. The business reported revenue of $50.53 million for the quarter, compared with analysts’ expectations of $47.98 million. In the same quarter of the previous year, the company reported earnings per share ($0.12). Analysts on average expect Alkami Technology’s earnings per share for the year to be -0.74.
Alkami Tech Institutional Transactions
Several institutional investors have recently increased or reduced their stake in ALKT. Long Path Partners Fund LP acquired new shares in Alkami Technology for $25,297,000 in the first quarter. Driehaus Capital Management LLC acquired a new stake in Alkami Technology for $7,665,000 in the second quarter. Renaissance Technologies LLC acquired new shares in Alkami Technology for $3,062,000 in the first quarter. Pembroke Management LTD acquired new shares in Alkami Technology for $2,411,000 in the first quarter. Finally, the Vanguard Group of Companies. In the first quarter, it increased its stake in Alkami Technology by 3.4%. The Vanguard Group Corporation now holds 2,841,483 shares of the company, valued at $40,662,000, after purchasing an additional 92,155 shares during the period. 52.74% of the stock is owned by institutional investors and hedge funds.
About Alkami Technologies
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Alkami Technology, Inc provides a cloud-based digital banking platform in the United States. The company’s platform, backed by a proprietary, cloud-based, multi-tenant architecture, allows financial institutions to onboard and attract new users, accelerate revenue and improve operational efficiency.
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