Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.10.

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. KeyCorp upped their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Alkami Technology in a report on Thursday, February 29th. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $23.84 on Thursday. The company has a 50 day moving average of $24.42 and a 200-day moving average of $22.84. The firm has a market cap of $2.32 billion, a P/E ratio of -36.12 and a beta of 0.40. Alkami Technology has a 12-month low of $10.93 and a 12-month high of $26.75. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. The company had revenue of $71.37 million during the quarter, compared to the consensus estimate of $71.12 million. Sell-side analysts anticipate that Alkami Technology will post -0.41 earnings per share for the current year.

Insider Activity

In other news, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the sale, the insider now directly owns 434,823 shares in the company, valued at approximately $10,009,625.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction dated 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 transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold 112,734 shares of company stock worth $2,658,864 in the last three months. Company insiders own 25.90% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC boosted its holdings in shares of Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Alkami Technology in the third quarter worth approximately $39,000. NBC Securities Inc. bought a new position in Alkami Technology in the fourth quarter worth approximately $43,000. Ensign Peak Advisors Inc raised its stake in Alkami Technology by 84.1% in the third quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company’s stock worth $43,000 after buying an additional 1,320 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Alkami Technology in the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.