Alkami Technology (NASDAQ:ALKT) Issues Quarterly Earnings Results

Alkami Technology (NASDAQ:ALKT) released its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.26), FiscalAI reports. The company had revenue of $120.79 million for the quarter, compared to the consensus estimate of $120.14 million. Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT traded up $0.77 during trading on Wednesday, hitting $16.37. 2,233,090 shares of the company were exchanged, compared to its average volume of 1,902,084. Alkami Technology has a 1-year low of $15.09 and a 1-year high of $31.66. The company has a market capitalization of $1.72 billion, a P/E ratio of -38.07 and a beta of 0.53. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $20.29 and its 200-day moving average is $22.04.

Analysts Set New Price Targets

Several research firms recently weighed in on ALKT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp reiterated a “market outperform” rating and set a $40.00 price target on shares of Alkami Technology in a research report on Thursday, January 29th. Zacks Research downgraded shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group cut their target price on 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. decreased their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.29.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction dated 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 owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.10% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi raised its holdings 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 during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Alkami Technology by 32.4% during the first 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 during the last quarter. Legal & General Group Plc lifted its holdings in shares of 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 purchasing an additional 691 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% in the fourth 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

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.