Alkami Technology (NASDAQ:ALKT) PT Raised to $38.00

Alkami Technology (NASDAQ:ALKT) had its price objective increased by analysts at JMP Securities from $35.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 14.25% from the stock’s current price.

A number of other brokerages also recently issued reports on ALKT. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Alkami Technology in a report on Tuesday, June 25th. The Goldman Sachs Group lifted their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Craig Hallum increased their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.40.

Alkami Technology Stock Up 1.6 %

Alkami Technology stock traded up $0.53 during mid-day trading on Thursday, hitting $33.26. The company had a trading volume of 925,940 shares, compared to its average volume of 408,619. Alkami Technology has a 12 month low of $14.93 and a 12 month high of $36.00. The stock’s 50 day moving average price is $29.08 and its two-hundred day moving average price is $26.33. The company has a market capitalization of $3.24 billion, a PE ratio of -55.43 and a beta of 0.47. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) earnings per share. As a group, sell-side analysts anticipate that Alkami Technology will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the sale, the director now owns 17,186,985 shares in the company, valued at $455,970,712.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The disclosure for this sale can be found here. Insiders have sold 1,848,472 shares of company stock valued at $49,241,550 over the last quarter. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in Alkami Technology in the 2nd quarter worth $88,000. Bank of New York Mellon Corp increased its stake in Alkami Technology by 45.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock worth $4,935,000 after acquiring an additional 54,453 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $85,000. SG Americas Securities LLC bought a new position in shares of Alkami Technology during the 2nd quarter valued at approximately $2,668,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Alkami Technology in the first quarter valued at $5,569,000. 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.