Alkami Technology’s (ALKT) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research note released on Monday morning, Benzinga reports. The firm currently has a $30.00 price target on the stock.

A number of other equities analysts also recently issued reports on ALKT. KeyCorp upped their price target on Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a report on Monday, January 8th. Barclays increased 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. The Goldman Sachs Group downgraded Alkami Technology from a buy rating to a neutral rating and increased their price objective for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. TheStreet raised Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their price objective on Alkami Technology from $27.00 to $31.00 and gave the company an overweight rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $26.10.

Alkami Technology Stock Down 0.5 %

ALKT stock opened at $23.56 on Monday. The company’s 50 day moving average price is $24.45 and its 200 day moving average price is $22.79. 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 fifty-two week low of $10.93 and a fifty-two week high of $26.75. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -35.70 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. The firm had revenue of $71.37 million for the quarter, compared to analyst estimates of $71.12 million. On average, equities research analysts anticipate that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 33,593 shares of the 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 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 filing with the SEC, which is available through the SEC website. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares in the company, valued at $10,009,625.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction 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 transaction, the insider now 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 three months. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALKT. Beaird Harris Wealth Management LLC increased its position in shares of 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 buying an additional 500 shares in the last quarter. Credit Suisse AG increased its position in shares of Alkami Technology by 7.0% in the second quarter. Credit Suisse AG now owns 12,515 shares of the company’s stock valued at $174,000 after buying an additional 818 shares in the last quarter. Swiss National Bank increased its position in shares of Alkami Technology by 1.1% in the third quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after buying an additional 1,000 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Alkami Technology by 18.3% in the third quarter. Lazard Asset Management LLC now owns 6,762 shares of the company’s stock valued at $123,000 after buying an additional 1,045 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of Alkami Technology by 61.6% in the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after buying an additional 1,102 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.