Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Alkami Technology (NASDAQ:ALKT) issued its earnings results on Thursday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13), Zacks reports. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%.

Alkami Technology Stock Down 1.8 %

Shares of NASDAQ:ALKT traded down $0.53 during trading on Thursday, hitting $28.97. The stock had a trading volume of 895,628 shares, compared to its average volume of 589,595. Alkami Technology has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a market capitalization of $2.91 billion, a PE ratio of -61.63 and a beta of 0.47. The firm’s fifty day moving average is $35.21 and its 200 day moving average is $35.04. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALKT shares. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum increased their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In other Alkami Technology news, insider Stephen Bohanon sold 15,491 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $594,389.67. Following the sale, the insider now directly owns 358,204 shares of the company’s stock, valued at $13,744,287.48. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 17,807 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total value of $683,254.59. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $13,576,879.17. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,298 shares of company stock worth $10,600,144 in the last 90 days. Insiders own 25.90% of the company’s stock.

Alkami Technology Company Profile

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