Alkami Technology (NASDAQ:ALKT) PT Raised to $32.00 at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price target hoisted by Needham & Company LLC from $30.00 to $32.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on ALKT. Barclays lifted their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a report on Thursday, February 29th. William Blair reissued an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. JMP Securities reaffirmed a market outperform rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. JPMorgan Chase & Co. lifted 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. Finally, TheStreet raised 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 company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $26.90.

Alkami Technology Price Performance

Shares of ALKT stock opened at $27.33 on Thursday. The company has a market capitalization of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40. 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 $11.23 and a 12 month high of $27.87. The stock has a 50 day moving average of $24.15 and a two-hundred day moving average of $23.49.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. During the same period last year, the business earned ($0.16) earnings per share. Alkami Technology’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, equities analysts expect that Alkami Technology will post -0.41 EPS for the current year.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 33,593 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alkami Technology news, 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 transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 33,593 shares of Alkami Technology stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the sale, the insider now directly 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. Insiders sold a total of 112,734 shares of company stock valued at $2,658,864 over the last quarter. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC increased its stake in Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Alkami Technology in the 3rd quarter valued at $39,000. NBC Securities Inc. bought a new stake in shares of Alkami Technology in the 4th quarter valued at $43,000. SG Americas Securities LLC acquired a new stake in Alkami Technology during the 3rd quarter worth $110,000. Finally, Quest Partners LLC bought a new position in Alkami Technology during the fourth quarter worth about $113,000. 54.97% of the stock is currently owned by institutional investors.

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.