Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $41.14

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $41.00.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Barclays cut their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Thursday.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,767 shares of company stock valued at $7,981,934. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several large investors have recently modified their holdings of ALKT. US Bancorp DE acquired a new stake in shares of Alkami Technology in the third quarter valued at approximately $259,000. Principal Financial Group Inc. acquired a new stake in Alkami Technology during the third quarter worth approximately $875,000. Covestor Ltd boosted its position 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 acquiring an additional 2,646 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Alkami Technology during the third quarter worth approximately $203,000. Finally, Victory Capital Management Inc. acquired a new stake in Alkami Technology during the third quarter worth approximately $979,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $25.26 on Friday. The company has a 50-day simple moving average of $32.54 and a 200-day simple moving average of $34.63. Alkami Technology has a one year low of $22.65 and a one year 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. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.74 and a beta of 0.49.

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

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.