Alkami Technology (NASDAQ:ALKT) Receives “Market Outperform” Rating from Citizens Jmp

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

A number of other research firms have also weighed in on ALKT. 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 lowered their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Stock Up 6.2%

Shares of NASDAQ:ALKT opened at $22.41 on Thursday. The firm has a market capitalization of $2.35 billion, a PE ratio of -52.12 and a beta of 0.53. Alkami Technology has a 1 year low of $18.71 and a 1 year high of $36.96. 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 firm’s 50-day moving average is $21.86 and its two-hundred day moving average is $23.14.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The business had revenue of $112.95 million during the quarter, compared to analyst estimates of $113.48 million. During the same quarter last year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 31.5% on a year-over-year basis. Analysts predict that Alkami Technology will post -0.34 EPS for the current year.

Insiders Place Their Bets

In related news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $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. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Alkami Technology

Several institutional investors have recently modified their holdings of ALKT. General Atlantic L.P. increased its stake in Alkami Technology by 24.3% in the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the period. Westfield Capital Management Co. LP raised its stake in Alkami Technology by 160.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after acquiring an additional 1,904,474 shares during the last quarter. JANA Partners Management LP acquired a new stake in Alkami Technology during the 3rd quarter worth approximately $47,008,000. Long Path Partners LP grew its stake in shares of Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after purchasing an additional 1,490,357 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after purchasing an additional 1,394,617 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.