Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Alkami Technology (NASDAQ:ALKTGet Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.23), FiscalAI reports. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $129.84 million during the quarter, compared to analyst estimates of $128.70 million.

Alkami Technology Stock Up 0.9%

ALKT traded up $0.16 during trading hours on Wednesday, hitting $18.33. 2,141,491 shares of the company’s stock were exchanged, compared to its average volume of 1,863,468. Alkami Technology has a 12-month low of $13.98 and a 12-month high of $26.97. The firm has a 50 day moving average of $16.86 and a 200 day moving average of $17.33. The firm has a market cap of $1.96 billion, a P/E ratio of -39.00 and a beta of 0.57. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $16.63 per share, for a total transaction of $14,048,558.36. Following the completion of the purchase, the director directly owned 17,445,994 shares in the company, valued at approximately $290,126,880.22. The trade was a 5.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 4,041,543 shares of company stock valued at $67,594,674. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares during the period. Smartleaf Asset Management LLC raised its position in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Alkami Technology in the 4th quarter valued at about $37,000. Kestra Advisory Services LLC purchased a new position in shares of Alkami Technology in the 4th quarter valued at about $48,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after buying an additional 594 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALKT. Citizens Jmp cut their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.20.

Get Our Latest Stock Report on ALKT

Alkami Technology Company Profile

(Get Free Report)

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.

See Also

Earnings History for Alkami Technology (NASDAQ:ALKT)

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