Alkami Technology (NASDAQ:ALKT) Price Target Raised to $31.00

Alkami Technology (NASDAQ:ALKTFree Report) had its price objective boosted by Craig Hallum from $30.00 to $31.00 in a research note issued to investors on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on ALKT. Barclays lifted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a research report on Thursday, February 29th. KeyCorp lifted their price target on shares of Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a research report on Monday, January 8th. The Goldman Sachs Group cut shares of Alkami Technology from a buy rating to a neutral rating and lifted their price target for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. JMP Securities reaffirmed 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, JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $26.90.

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Alkami Technology Price Performance

ALKT opened at $27.33 on Thursday. The company’s 50 day simple moving average is $24.15 and its 200 day simple moving average is $23.41. 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 has a 1 year low of $11.23 and a 1 year high of $27.87. The stock has a market capitalization of $2.66 billion, a PE ratio of -45.55 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKTGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) earnings per share. As a group, sell-side analysts expect that Alkami Technology will post -0.41 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction 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 sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction on 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 sale, the insider now owns 434,823 shares in the company, valued at $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 50,089 shares of Alkami Technology 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 completion of the sale, the chief financial officer now 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. Over the last three months, insiders have sold 112,734 shares of company stock valued at $2,658,864. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP bought a new stake in Alkami Technology during the first quarter valued at $37,178,000. Scalar Gauge Management LLC bought a new stake in Alkami Technology during the fourth quarter valued at $20,694,000. The Manufacturers Life Insurance Company increased its stake in Alkami Technology by 3,727.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock valued at $20,719,000 after purchasing an additional 832,059 shares during the last quarter. Capital International Investors increased its stake in Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after purchasing an additional 632,061 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Alkami Technology during the third quarter valued at $5,484,000. Institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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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.

Further Reading

Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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