Alkami Technology (NASDAQ:ALKT) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Alkami Technology (NASDAQ:ALKT) released its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03, Briefing.com reports. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year. Alkami Technology updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Alkami Technology Stock Performance

ALKT stock opened at $27.33 on Friday. The firm has a 50 day moving average of $24.12 and a two-hundred day moving average of $23.35. Alkami Technology has a 12 month low of $11.23 and a 12 month high of $27.87. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -45.55 and a beta of 0.40. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Craig Hallum boosted their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th. KeyCorp upped their target price on Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC boosted their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Insider Activity

In related news, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the sale, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the sale, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,734 shares of company stock worth $2,658,864. 38.00% of the stock is owned by corporate insiders.

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.