Alkami Technology (NASDAQ:ALKT) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Alkami Technology (NASDAQ:ALKT) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $40.00 price target on the stock.

Several other brokerages have also issued reports on ALKT. Lake Street Capital lowered their target price on Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. Needham & Company LLC lowered their target price on Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.25.

Alkami Technology Trading Up 5.6%

NASDAQ ALKT opened at $28.34 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.23. Alkami Technology has a twelve month low of $21.70 and a twelve month high of $42.29. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -74.58 and a beta of 0.58. The business’s fifty day moving average is $27.96 and its 200 day moving average is $31.06.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Joseph P. Payne acquired 8,200 shares of the stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, with a total value of $249,772.00. Following the transaction, the director now owns 21,128 shares in the company, valued at approximately $643,558.88. The trade was a 63.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the transaction, the insider now directly owns 238,172 shares of the company’s stock, valued at approximately $6,754,557.92. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,690 shares of company stock valued at $785,288. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology in the 4th quarter worth about $34,000. Perkins Coie Trust Co increased its position in Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. Versant Capital Management Inc bought a new stake in Alkami Technology in the 1st quarter valued at about $36,000. Amalgamated Bank increased its position in Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after buying an additional 704 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Alkami Technology in the 1st quarter valued at about $59,000. 54.97% of the stock is owned by institutional investors.

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.