Alkami Technology, Inc. (NASDAQ:ALKT) Receives $26.10 Average Target Price from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $26.10.

ALKT has been the topic of several recent analyst reports. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. KeyCorp upped their price target on Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Barclays upped their price target on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Finally, The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and upped their price target for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the sale, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,734 shares of company stock worth $2,658,864. 25.90% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of hedge funds have recently modified their holdings of ALKT. Wasatch Advisors LP bought a new stake in shares of Alkami Technology in the 1st quarter worth approximately $37,178,000. Scalar Gauge Management LLC acquired a new stake in shares of Alkami Technology in the 4th quarter valued at $20,694,000. The Manufacturers Life Insurance Company increased its stake in shares of Alkami Technology by 3,727.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock valued at $20,719,000 after buying an additional 832,059 shares during the period. Capital International Investors increased its stake in shares of Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after buying an additional 632,061 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Alkami Technology in the 3rd quarter worth $5,484,000. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Down 0.3 %

Shares of NASDAQ ALKT opened at $24.49 on Thursday. Alkami Technology has a 12 month low of $10.93 and a 12 month high of $26.75. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -37.11 and a beta of 0.40. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $24.25 and a 200-day simple moving average of $23.08.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, February 28th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The business had revenue of $71.37 million during the quarter, compared to the consensus estimate of $71.12 million. Sell-side analysts predict that Alkami Technology will post -0.41 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.