Alkami Technology, Inc. (NASDAQ:ALKT) Receives $26.10 Consensus PT from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKTGet Free Report) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.10.

A number of brokerages recently weighed in on ALKT. William Blair reissued an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. KeyCorp upped their target price on Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Alkami Technology in a report on Thursday, February 29th.

Read Our Latest Stock Analysis on Alkami Technology

Alkami Technology Trading Down 1.1 %

NASDAQ ALKT opened at $23.78 on Thursday. The firm has a market capitalization of $2.32 billion, a PE ratio of -36.03 and a beta of 0.40. The business’s 50-day moving average price is $24.35 and its two-hundred day moving average price is $22.93. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Alkami Technology has a 12 month low of $10.93 and a 12 month high of $26.75.

Alkami Technology (NASDAQ:ALKTGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) EPS for the quarter, hitting 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 company had revenue of $71.37 million for the quarter, compared to analyst estimates of $71.12 million. On average, analysts expect that Alkami Technology will post -0.41 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total value of $792,458.87. Following the completion of the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the firm’s 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 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 worth $2,658,864. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP bought a new position in shares of Alkami Technology during the first quarter valued at about $37,178,000. Contravisory Investment Management Inc. bought a new position in shares of Alkami Technology during the 1st quarter worth approximately $248,000. NBC Securities Inc. lifted its position in shares of Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after buying an additional 1,102 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Alkami Technology by 98.5% in the 4th quarter. Quadrature Capital Ltd now owns 23,347 shares of the company’s stock worth $566,000 after buying an additional 11,585 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Alkami Technology by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock valued at $110,633,000 after acquiring an additional 267,336 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

About Alkami Technology

(Get Free Report

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.

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Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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