Alkami Technology (NASDAQ:ALKT) Given New $25.00 Price Target at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price objective upped by equities researchers at Needham & Company LLC from $22.00 to $25.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 22.67% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Citizens Jmp reduced their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.80.

Alkami Technology Price Performance

ALKT opened at $20.38 on Monday. The stock has a fifty day moving average of $17.93 and a 200-day moving average of $17.14. The firm has a market capitalization of $2.18 billion, a P/E ratio of -48.52 and a beta of 0.58. Alkami Technology has a 12-month low of $13.98 and a 12-month high of $26.89. 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 (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). The business had revenue of $129.84 million for the quarter, compared to analysts’ expectations of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. Equities analysts forecast that Alkami Technology will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors have recently made changes to their positions in the company. Amundi boosted its stake in Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after buying an additional 548 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares in the last quarter. Legal & General Group Plc raised its stake in Alkami Technology by 0.8% during the third quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after acquiring an additional 691 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Alkami Technology by 91.7% during 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. Finally, Summit Securities Group LLC increased its position in shares of Alkami Technology by 84.2% during 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 in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.