Alkami Technology (NASDAQ:ALKT) PT Raised to $32.00

Alkami Technology (NASDAQ:ALKT) had its target price increased by Needham & Company LLC from $30.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 31.15% from the stock’s previous close.

ALKT has been the subject of several other research reports. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th. Barclays boosted their price target on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. KeyCorp raised their price objective on Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. William Blair reissued an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Finally, TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.30.

Alkami Technology Trading Up 1.4 %

Shares of NASDAQ:ALKT opened at $24.40 on Thursday. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2.38 billion, a PE ratio of -36.97 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 firm has a fifty day moving average price of $24.10 and a 200 day moving average price of $23.32.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $71.12 million. Analysts expect that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the business’s 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 of the company’s stock, valued at $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the company’s 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 transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders sold 112,734 shares of company stock worth $2,658,864 in the last quarter. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC increased its stake in shares of Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after buying an additional 500 shares during the period. Swiss National Bank lifted its position in Alkami Technology by 1.1% during the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after purchasing an additional 1,000 shares during the period. NBC Securities Inc. boosted its stake in shares of Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Penbrook Management LLC grew its position in shares of Alkami Technology by 2.3% during the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock worth $1,502,000 after buying an additional 1,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alkami Technology by 9.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after buying an additional 1,494 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

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.