Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $40.88

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $40.88.

A number of equities research analysts have weighed in on ALKT shares. JMP Securities lifted their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Barclays boosted their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $38.53 on Tuesday. The firm has a market cap of $3.87 billion, a P/E ratio of -81.98 and a beta of 0.46. The firm’s 50-day simple moving average is $38.60 and its 200-day simple moving average is $33.71. Alkami Technology has a twelve month low of $22.62 and a twelve month high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Insiders Place Their Bets

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the sale, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the transaction, the chief financial officer now owns 471,403 shares in the company, valued at approximately $17,116,642.93. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,417,380 shares of company stock valued at $248,273,935. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Park Place Capital Corp acquired a new stake in Alkami Technology during the 3rd quarter worth $28,000. Advisors Asset Management Inc. grew its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. increased its holdings in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Alkami Technology in the second quarter valued at about $40,000. Finally, Covestor Ltd boosted its holdings in Alkami Technology by 6,300.0% during the third 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 last quarter. 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.