Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $26.10

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.10.

Several brokerages have recently commented on ALKT. Barclays boosted their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. The Goldman Sachs Group cut Alkami Technology from a “buy” rating to a “neutral” rating and raised their price target for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. KeyCorp raised their target price on shares of Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Finally, William Blair reiterated an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $23.98 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The business’s fifty day moving average price is $24.31 and its two-hundred day moving average price is $23.02. Alkami Technology has a fifty-two week low of $10.93 and a fifty-two week high of $26.75. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -36.33 and a beta of 0.40.

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

Insider Buying and Selling at Alkami Technology

In other 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 transaction 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 at the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction dated Friday, March 8th. The stock was 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 directly owns 508,501 shares in the company, valued at $12,158,258.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the sale, the insider now directly owns 434,823 shares in the company, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,734 shares of company stock valued at $2,658,864. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently made changes to their positions in the stock. Capital International Investors increased its holdings in Alkami Technology by 15.6% during the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after purchasing an additional 632,061 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after buying an additional 217,123 shares during the period. Wasatch Advisors LP bought a new stake in Alkami Technology in the 1st quarter valued at $37,178,000. Finally, FMR LLC raised its position in shares of Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock valued at $21,542,000 after purchasing an additional 21,086 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Company Profile

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.