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Alkami (ALKT) Surges 5.5%: Is This an Indication of Further Gains?
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Alkami Technology (ALKT - Free Report) shares rallied 5.5% in the last trading session to close at $18.55. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1% loss over the past four weeks.
The upswing in share prices can be attributed to Alkemi's growing brand awareness and expanding clientele. In second-quarter 2023, ALKT added 10 new digital banking platform clients.
This provider of digital banking services is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $67.47 million, up 26.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alkami, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALKT going forward to see if this recent jump can turn into more strength down the road.
Alkami is a member of the Zacks Internet - Software industry. One other stock in the same industry, Datadog (DDOG - Free Report) , finished the last trading session 0.1% lower at $90.41. DDOG has returned -4.2% over the past month.
Datadog's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of +47.8%. Datadog currently boasts a Zacks Rank of #1 (Strong Buy).
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Alkami (ALKT) Surges 5.5%: Is This an Indication of Further Gains?
Alkami Technology (ALKT - Free Report) shares rallied 5.5% in the last trading session to close at $18.55. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1% loss over the past four weeks.
The upswing in share prices can be attributed to Alkemi's growing brand awareness and expanding clientele. In second-quarter 2023, ALKT added 10 new digital banking platform clients.
This provider of digital banking services is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $67.47 million, up 26.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alkami, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALKT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alkami is a member of the Zacks Internet - Software industry. One other stock in the same industry, Datadog (DDOG - Free Report) , finished the last trading session 0.1% lower at $90.41. DDOG has returned -4.2% over the past month.
Datadog's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of +47.8%. Datadog currently boasts a Zacks Rank of #1 (Strong Buy).