Alkami Technology (NASDAQ:ALKT) Price Target Raised to $32.00

Alkami Technology (NASDAQ:ALKT) had its price objective upped by Needham & Company LLC from $30.00 to $32.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on ALKT. TheStreet upgraded shares of Alkami Technology from a d rating to a c- rating in a research report on Thursday, February 29th. KeyCorp upped their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a research report on Monday, January 8th. William Blair reiterated an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. Barclays boosted their target price on Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price target on Alkami Technology from $27.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of Moderate Buy and an average target price of $26.90.

Alkami Technology Price Performance

Shares of ALKT stock opened at $27.33 on Thursday. The firm’s 50 day moving average price is $24.15 and its two-hundred day moving average price is $23.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. Alkami Technology has a 52-week low of $11.23 and a 52-week high of $27.87. The stock has a market cap of $2.66 billion, a PE ratio of -45.55 and a beta of 0.40.

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

Insider Buying and Selling

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Douglas A. Linebarger sold 33,593 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 in the company, valued at approximately $6,198,248.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the insider now directly owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,734 shares of company stock worth $2,658,864. 38.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. PEAK6 Investments LLC increased its position in Alkami Technology by 217.3% during the third quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock worth $2,069,000 after buying an additional 77,750 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Alkami Technology by 1,283.9% during the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock valued at $2,030,000 after purchasing an additional 77,677 shares during the last quarter. Quadrature Capital Ltd bought a new position in Alkami Technology during the third quarter worth $214,000. Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock valued at $78,252,000 after purchasing an additional 31,069 shares during the last quarter. Finally, Bamco Inc. NY raised its position in shares of Alkami Technology by 0.8% in the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock valued at $14,214,000 after purchasing an additional 6,064 shares during the period. 54.97% of the stock is owned by institutional investors.

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.