Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Alkami Technology (NASDAQ:ALKT) announced its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.26), FiscalAI reports. The company had revenue of $134.91 million during the quarter, compared to analyst estimates of $133.54 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%.

Alkami Technology Trading Up 1.1%

Shares of NASDAQ:ALKT traded up $0.17 on Wednesday, hitting $15.53. The company had a trading volume of 1,915,016 shares, compared to its average volume of 1,831,844. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology has a 1 year low of $13.20 and a 1 year high of $24.47. The firm’s 50-day simple moving average is $17.01 and its two-hundred day simple moving average is $17.40. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -36.98 and a beta of 0.60.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALKT. Citizens Jmp reissued a “market outperform” rating and set a $24.00 target price on shares of Alkami Technology in a research note on Thursday, September 24th. Citigroup reiterated a “market outperform” rating on shares of Alkami Technology in a report on Thursday, September 24th. Needham & Company LLC lifted their price objective on Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Barclays lowered their target price on shares of Alkami Technology from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and a consensus target price of $20.80.

Alkami Technology Company Profile

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions, primarily community banks and credit unions in the United States. Its platform is designed to help institutions deliver digital experiences across online and mobile channels while managing customer relationships and banking operations.

The company’s products and services include digital account opening, online and mobile banking, payments, money movement, card management, financial wellness tools, data and analytics, marketing capabilities, and fraud prevention.