Alkami Technology (NASDAQ:ALKT – Get 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
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
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.
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