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

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

Separately, JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Alkami Technology Stock Up 0.5 %

ALKT stock opened at $28.97 on Monday. The stock has a market capitalization of $2.91 billion, a P/E ratio of -61.64 and a beta of 0.47. The firm has a 50-day simple moving average of $34.24 and a 200-day simple moving average of $34.98. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a 52 week low of $22.65 and a 52 week high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released 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 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%. Equities analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other news, 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 value of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $14,072,256.57. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,767 shares of company stock valued at $9,984,434. Corporate 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 the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $4,384,000. Jefferies Financial Group Inc. acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $2,704,000. Mackenzie Financial Corp lifted its holdings in shares of Alkami Technology by 244.9% in the 4th quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock worth $972,000 after acquiring an additional 18,823 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Alkami Technology by 18.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock worth $3,036,000 after acquiring an additional 12,952 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $96,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.