Alkami Technology (NASDAQ:ALKT) PT Raised to $43.00

Alkami Technology (NASDAQ:ALKT) had its price target upped by Needham & Company LLC from $32.00 to $43.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on ALKT. Barclays boosted their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an equal weight rating in a research report on Thursday. Lake Street Capital upped their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a buy rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the company a neutral rating in a research report on Thursday. JMP Securities increased their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the stock a market outperform rating in a report on Thursday. Finally, Craig Hallum lifted their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a buy rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $32.50.

Alkami Technology Stock Down 4.8 %

ALKT stock opened at $32.24 on Thursday. The stock has a 50-day simple moving average of $29.32 and a two-hundred day simple moving average of $26.46. Alkami Technology has a twelve month low of $14.93 and a twelve month high of $36.00. The firm has a market capitalization of $3.14 billion, a PE ratio of -53.73 and a beta of 0.47. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.47%. The company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Alkami Technology’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities analysts predict that Alkami Technology will post -0.38 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the sale, the chief financial officer now directly owns 505,877 shares in the company, valued at $14,569,257.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders sold 1,777,442 shares of company stock worth $47,335,815 in the last ninety days. 38.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently made changes to their positions in the business. Swiss National Bank boosted its holdings in Alkami Technology by 1.3% in the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after acquiring an additional 1,100 shares in the last quarter. NBC Securities Inc. boosted its stake 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 valued at $71,000 after purchasing an additional 1,102 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after buying an additional 1,460 shares during the period. Perkins Coie Trust Co bought a new position in Alkami Technology in the second quarter worth about $85,000. Finally, nVerses Capital LLC purchased a new stake in Alkami Technology in the second quarter worth about $88,000. 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.