Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.10.

ALKT has been the topic of several research reports. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Barclays lifted their price objective on Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group cut Alkami Technology from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $23.00 to $27.00 in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th.

Alkami Technology Stock Down 0.3 %

Alkami Technology stock opened at $24.49 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -37.11 and a beta of 0.40. Alkami Technology has a fifty-two week low of $10.93 and a fifty-two week high of $26.75. The stock’s fifty day moving average is $24.25 and its two-hundred day moving average is $23.08.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $71.37 million for the quarter, compared to analyst estimates of $71.12 million. Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. Analysts predict that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders sold 112,734 shares of company stock worth $2,658,864 in the last 90 days. 25.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its position in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Alkami Technology during the 3rd quarter worth approximately $39,000. NBC Securities Inc. acquired a new position in Alkami Technology during the 4th quarter worth approximately $43,000. SG Americas Securities LLC acquired a new position in Alkami Technology during the 3rd quarter worth approximately $110,000. Finally, Quest Partners LLC acquired a new position in Alkami Technology during the 4th quarter worth approximately $113,000. 54.97% of the stock is owned by institutional investors and hedge funds.

About Alkami Technology

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.