Alkami Technology (ALKT) Set to Announce Earnings on Wednesday

Alkami Technology (NASDAQ:ALKT - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Alkami Technology has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that wish to register for the company's conference call can do so using this link.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same period in the prior year, the firm earned ($0.17) EPS. The company's revenue was up 24.9% compared to the same quarter last year. On average, analysts expect Alkami Technology to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Alkami Technology Stock Performance

Shares of Alkami Technology stock traded up $0.13 on Wednesday, reaching $38.18. 482,076 shares of the company traded hands, compared to its average volume of 449,830. Alkami Technology has a 52 week low of $17.32 and a 52 week high of $38.81. The company has a 50 day moving average of $32.16 and a 200 day moving average of $29.49. The firm has a market capitalization of $3.72 billion, a PE ratio of -63.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 55,046 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the sale, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Brian R. Smith sold 83,333 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares in the company, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 55,046 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the sale, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 in the last three months. 38.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALKT. Lake Street Capital upped their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Craig Hallum upped their price target on shares of Alkami Technology from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. JMP Securities upped their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the company a "market outperform" rating in a research note on Thursday, August 1st. Finally, Barclays upped their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and an average target price of $33.89.

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.