Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Price Target at $22.80

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.80.

A number of research analysts have recently commented on ALKT shares. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp dropped their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Barclays decreased their target price on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, Needham & Company LLC decreased their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the transaction, the director directly owned 19,420,994 shares in the company, valued at $320,252,191.06. This trade represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of large investors have recently made changes to their positions in the company. General Atlantic L.P. boosted its position in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the period. Vanguard Group Inc. boosted its position in shares of Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after purchasing an additional 456,275 shares during the period. North Reef Capital Management LP boosted its position in shares of Alkami Technology by 264.3% in the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after purchasing an additional 5,550,000 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after purchasing an additional 1,023,297 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Alkami Technology by 56.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after purchasing an additional 1,394,617 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

ALKT opened at $15.19 on Wednesday. Alkami Technology has a one year low of $14.11 and a one year high of $31.08. The company has a market cap of $1.63 billion, a P/E ratio of -32.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The business’s 50-day simple moving average is $16.68 and its 200-day simple moving average is $18.52.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the previous year, the company posted $0.08 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. As a group, equities research analysts expect that Alkami Technology will post 0.18 EPS for the current fiscal year.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.