Alkami Technology (NASDAQ:ALKT) PT Raised to $32.00

Alkami Technology (NASDAQ:ALKT) had its price target increased by equities research analysts at Needham & Company LLC from $30.00 to $32.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 17.09% from the company’s previous close.

A number of other research firms have also recently commented on ALKT. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. William Blair restated an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th. KeyCorp upped their target price on Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Barclays lifted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average target price of $26.90.

Alkami Technology Stock Performance

Shares of ALKT opened at $27.33 on Thursday. Alkami Technology has a 12-month low of $11.23 and a 12-month high of $27.87. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.66 billion, a PE ratio of -45.55 and a beta of 0.40. The stock has a 50-day moving average price of $24.12 and a 200-day moving average price of $23.35.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. As a group, equities analysts forecast that Alkami Technology will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 33,593 shares of Alkami Technology stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the sale, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Linebarger sold 33,593 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the sale, the insider now directly owns 262,749 shares in the company, valued at $6,198,248.91. The disclosure for this sale can be found here. Insiders sold 112,734 shares of company stock valued at $2,658,864 over the last quarter. 38.00% of the stock is owned by company insiders.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in ALKT. Capital International Investors increased its stake in Alkami Technology by 15.6% during the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after purchasing an additional 632,061 shares in the last quarter. Vanguard Group Inc. raised its holdings in Alkami Technology by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after acquiring an additional 267,336 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Alkami Technology by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after acquiring an additional 217,123 shares in the last quarter. Wasatch Advisors LP purchased a new stake in Alkami Technology during the 1st quarter valued at $37,178,000. Finally, FMR LLC increased its holdings in shares of Alkami Technology by 1.8% in the 3rd quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after purchasing an additional 21,086 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.