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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $41.00.

Several brokerages have commented on ALKT. JPMorgan Chase & Co. raised their price target 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. 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 research report on Thursday. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Barclays decreased 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 research report on Monday, March 3rd.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following 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. In the last three months, insiders sold 221,767 shares of company stock valued at $7,981,934. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Alliancebernstein L.P. raised its stake in Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock worth $99,305,000 after acquiring an additional 2,661,027 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $78,878,000. Champlain Investment Partners LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $57,772,000. Invesco Ltd. raised its holdings in shares of Alkami Technology by 353.1% in the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after buying an additional 1,134,746 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock valued at $52,649,000 after buying an additional 1,055,828 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Up 0.0 %

Alkami Technology stock opened at $25.26 on Friday. Alkami Technology has a fifty-two week low of $22.65 and a fifty-two week 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 firm has a 50 day moving average price of $32.54 and a 200 day moving average price of $34.63. The company has a market capitalization of $2.58 billion, a PE ratio of -53.74 and a beta of 0.49.

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