Alkami Technology (NASDAQ:ALKT – Get Free Report) released its earnings results on Wednesday. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02, Briefing.com reports. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.47%. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. During the same period last year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Alkami Technology updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Alkami Technology Trading Down 4.8 %
Shares of NASDAQ ALKT traded down $1.62 during midday trading on Friday, reaching $32.24. The stock had a trading volume of 654,544 shares, compared to its average volume of 509,095. Alkami Technology has a twelve month low of $14.93 and a twelve month high of $36.00. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $29.32 and its 200 day moving average price is $26.43.
Insider Transactions at Alkami Technology
In other news, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the transaction, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the transaction, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now owns 505,877 shares in the company, valued at approximately $14,569,257.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,848,472 shares of company stock worth $49,241,550. Company insiders own 38.00% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on Alkami Technology
About Alkami Technology
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.
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