Recent Analysts’ Ratings Updates for Alkami Technology (ALKT)

Posted by Faye Duncan on Nov 7th, 2024

Several brokerages have updated their recommendations and price targets on shares of Alkami Technology (NASDAQ: ALKT) in the last few weeks:

11/1/2024 – Alkami Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $34.00 to $39.00. They now have a “neutral” rating on the stock.
10/31/2024 – Alkami Technology had its price target raised by analysts at Barclays PLC from $35.00 to $41.00. They now have an “equal weight” rating on the stock.
10/31/2024 – Alkami Technology had its price target raised by analysts at Craig Hallum from $38.00 to $45.00. They now have a “buy” rating on the stock.
10/31/2024 – Alkami Technology had its price target raised by analysts at Needham & Company LLC from $43.00 to $54.00. They now have a “buy” rating on the stock.
10/29/2024 – Alkami Technology had its price target raised by analysts at JMP Securities from $38.00 to $41.00. They now have a “market outperform” rating on the stock.

Alkami Technology Trading Down 5.4 %

Shares of NASDAQ:ALKT traded down $2.14 on Thursday, hitting $37.72. 2,861,264 shares of the company’s stock were exchanged, compared to its average volume of 472,901. The business’s 50 day simple moving average is $33.47 and its two-hundred day simple moving average is $30.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -80.26 and a beta of 0.43. Alkami Technology, Inc. has a 12 month low of $20.38 and a 12 month high of $41.36.

Insider Buying and Selling at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the sale, the director now directly owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the transaction, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder George B. Kaiser sold 1,666,666 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the sale, the insider now directly owns 8,419,784 shares in the company, valued at approximately $262,444,667.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,565,083 shares of company stock valued at $111,323,268 in the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently modified their holdings of ALKT. Park Place Capital Corp purchased a new position in Alkami Technology in the 3rd quarter worth $28,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the second quarter worth about $40,000. Perkins Coie Trust Co purchased a new stake in Alkami Technology in the second quarter valued at approximately $85,000. Finally, Covestor Ltd increased its holdings in Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after buying an additional 2,646 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.