Alkami Technology (NASDAQ:ALKT) Given New $18.00 Price Target at Citigroup

Alkami Technology (NASDAQ:ALKTGet Rating) had its price target trimmed by Citigroup from $32.00 to $18.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on ALKT. Needham & Company LLC dropped their target price on Alkami Technology from $40.00 to $22.00 and set a buy rating on the stock in a report on Thursday, February 24th. Barclays dropped their price objective on Alkami Technology from $17.00 to $15.00 in a report on Monday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of Moderate Buy and a consensus price target of $23.00.

Shares of ALKT opened at $13.98 on Tuesday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -24.10 and a beta of 0.80. Alkami Technology has a fifty-two week low of $9.23 and a fifty-two week high of $38.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.78 and a quick ratio of 9.78. The business’s 50-day moving average is $12.43 and its 200-day moving average is $14.82.

Alkami Technology (NASDAQ:ALKTGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The business had revenue of $44.79 million during the quarter, compared to analyst estimates 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 for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.30) EPS. Equities research analysts expect that Alkami Technology will post -0.65 earnings per share for the current fiscal year.

In related news, CEO Alex Shootman purchased 22,468 shares of the stock in a transaction on Thursday, May 19th. The shares were bought at an average price of $11.13 per share, for a total transaction of $250,068.84. Following the completion of the acquisition, the chief executive officer now directly owns 1,024,164 shares in the company, valued at approximately $11,398,945.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Hansen sold 4,313 shares of the stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $10.51, for a total value of $45,329.63. Following the transaction, the director now owns 284,779 shares in the company, valued at approximately $2,993,027.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,244 shares of company stock worth $550,488. Corporate insiders own 40.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Alkami Technology by 37.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,286,563 shares of the company’s stock valued at $45,868,000 after acquiring an additional 623,444 shares during the period. Northern Trust Corp boosted its position in shares of Alkami Technology by 303.9% in the fourth quarter. Northern Trust Corp now owns 213,997 shares of the company’s stock valued at $4,293,000 after acquiring an additional 161,014 shares during the period. Rheos Capital Works Inc. bought a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $1,254,000. Brown Advisory Inc. boosted its position in shares of Alkami Technology by 1,475.7% in the fourth quarter. Brown Advisory Inc. now owns 844,105 shares of the company’s stock valued at $16,933,000 after acquiring an additional 790,535 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Alkami Technology by 2.1% in the third quarter. Geode Capital Management LLC now owns 117,256 shares of the company’s stock valued at $2,893,000 after acquiring an additional 2,382 shares during the period. 49.50% of the stock is owned by institutional investors.

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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