Alkami Technology (NASDAQ:ALKT) Price Target Lowered to $35.00 at Barclays

Alkami Technology (NASDAQ:ALKT) had its price target decreased by Barclays from $41.00 to $35.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. upped their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.14.

Alkami Technology Stock Performance

ALKT opened at $29.57 on Monday. The stock has a market cap of $2.97 billion, a PE ratio of -62.91 and a beta of 0.47. Alkami Technology has a 1 year low of $22.65 and a 1 year high of $42.29. The stock’s 50 day simple moving average is $34.67 and its 200-day simple moving average is $35.04. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Sell-side analysts forecast that Alkami Technology will post -0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the transaction, the chief financial officer now owns 353,841 shares in the company, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares in the company, valued at approximately $7,676,303.40. This represents a 20.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,000 shares of company stock valued at $9,322,500. 38.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently modified their holdings of ALKT. Bosun Asset Management LLC increased its holdings in shares of Alkami Technology by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock valued at $849,000 after purchasing an additional 313 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the fourth quarter worth $34,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Alkami Technology by 28.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after acquiring an additional 1,238 shares during the period. 54.97% of the stock is 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.