Barclays Lowers Alkami Technology (NASDAQ:ALKT) Price Target to $35.00

Alkami Technology (NASDAQ:ALKT) had its price objective decreased by Barclays from $41.00 to $35.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.14.

Alkami Technology Price Performance

Shares of ALKT opened at $28.97 on Monday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $34.24 and its 200-day simple moving average is $34.98. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -61.64 and a beta of 0.47. Alkami Technology has a twelve month low of $22.65 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The company had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Equities analysts forecast that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at approximately $14,072,256.57. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the insider now owns 191,668 shares of the company’s stock, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,767 shares of company stock valued at $9,984,434. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently made changes to their positions in ALKT. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $34,000. Advisors Asset Management Inc. lifted its stake in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the period. Quarry LP acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $61,000. Covestor Ltd lifted its stake in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after purchasing an additional 2,646 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $96,000. Institutional investors and hedge funds 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.