JMP Securities Reaffirms Market Outperform Rating for Alkami Technology (NASDAQ:ALKT)

JMP Securities restated their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research note issued to investors on Monday, Benzinga reports. They currently have a $30.00 target price on the stock.

ALKT has been the topic of several other research reports. TheStreet raised Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. William Blair reiterated an outperform rating on shares of Alkami Technology in a research report on Thursday, February 29th. Needham & Company LLC reiterated a buy rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Thursday, February 29th. The Goldman Sachs Group cut shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an overweight rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of Moderate Buy and an average price target of $26.10.

Alkami Technology Price Performance

NASDAQ ALKT opened at $23.84 on Monday. The stock has a market capitalization of $2.32 billion, a P/E ratio of -36.12 and a beta of 0.40. Alkami Technology has a 1 year low of $10.93 and a 1 year high of $26.75. The business’s fifty day moving average is $24.42 and its two-hundred day moving average is $22.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77.

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

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at approximately $12,158,258.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alkami Technology news, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 112,734 shares of company stock valued at $2,658,864. Insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of Alkami Technology during the first quarter valued at about $248,000. NBC Securities Inc. raised its position in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after buying an additional 1,102 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Alkami Technology by 98.5% during the fourth quarter. Quadrature Capital Ltd now owns 23,347 shares of the company’s stock valued at $566,000 after buying an additional 11,585 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alkami Technology by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock valued at $110,633,000 after buying an additional 267,336 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Alkami Technology by 70.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 133,085 shares of the company’s stock valued at $3,227,000 after buying an additional 55,032 shares during the last quarter. Institutional investors and hedge funds 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.