Alkami Technology (NASDAQ:ALKT) Price Target Lowered to $18.00 at Citigroup

Posted by on Jun 21st, 2022

Alkami Technology (NASDAQ:ALKT – Get Rating) had its price objective lowered by research analysts at Citigroup from $32.00 to $18.00 in a research report issued on Tuesday, The Fly reports. Citigroup’s target price would suggest a potential upside of 47.30% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reduced their price target on Alkami Technology from $40.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Barclays reduced their price target on Alkami Technology from $17.00 to $15.00 in a report on Monday, May 9th.

Shares of NASDAQ ALKT opened at $12.22 on Tuesday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -21.07 and a beta of 0.80. The business has a 50-day moving average of $12.36 and a 200-day moving average of $14.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.78 and a quick ratio of 9.78. Alkami Technology has a fifty-two week low of $9.23 and a fifty-two week high of $38.63.

Alkami Technology (NASDAQ:ALKT – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The company had revenue of $44.79 million during the quarter, compared to the consensus estimate of $43.90 million. Alkami Technology had a negative net margin of 30.15% and a negative return on equity of 13.11%. Alkami Technology’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.30) EPS. On average, sell-side analysts expect that Alkami Technology will post -0.65 EPS for the current year.

In other news, CFO W Bryan Hill sold 2,889 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $14.37, for a total transaction of $41,514.93. Following the completion of the sale, the chief financial officer now owns 195,685 shares in the company, valued at $2,811,993.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Bohanon sold 24,232 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $13.81, for a total value of $334,643.92. Following the sale, the insider now owns 382,567 shares of the company’s stock, valued at approximately $5,283,250.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,244 shares of company stock valued at $550,488. Corporate insiders own 40.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Alkami Technology by 116.4% in the third quarter. Royal Bank of Canada now owns 1,032 shares of the company’s stock valued at $26,000 after buying an additional 555 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Alkami Technology during the first quarter valued at approximately $45,000. Lindbrook Capital LLC acquired a new position in Alkami Technology during the fourth quarter valued at approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Alkami Technology during the fourth quarter valued at approximately $113,000. Finally, Legal & General Group Plc raised its position in Alkami Technology by 882.6% during the fourth quarter. Legal & General Group Plc now owns 7,075 shares of the company’s stock valued at $142,000 after purchasing an additional 6,355 shares in the last quarter. Institutional investors own 49.50% of the company’s stock.

Alkami Technology Company Profile (Get Rating)

Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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