Alkami Technology (NASDAQ:ALKT) Price Target Raised to $31.00

Alkami Technology (NASDAQ:ALKT) had its target price increased by Craig Hallum from $30.00 to $31.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on ALKT. KeyCorp lifted their price objective on Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a research report on Monday, January 8th. William Blair reissued an outperform rating on shares of Alkami Technology in a research report on Thursday, February 29th. Needham & Company LLC raised their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a buy rating in a research report on Thursday. TheStreet upgraded shares of Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. Finally, JMP Securities reissued a market outperform rating and issued a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $26.90.

Alkami Technology Trading Up 2.4 %

Shares of ALKT stock opened at $27.33 on Thursday. Alkami Technology has a fifty-two week low of $11.23 and a fifty-two week high of $27.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The stock’s fifty day moving average is $24.15 and its two-hundred day moving average is $23.41. The firm has a market capitalization of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40.

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

Insider Activity at Alkami Technology

In other news, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology 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 completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the sale, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,734 shares of company stock worth $2,658,864. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC boosted its holdings 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 during the period. Swiss National Bank boosted its stake in shares of Alkami Technology by 1.1% in the 3rd 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 during the period. NBC Securities Inc. grew its position in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after buying an additional 1,102 shares in the last quarter. Penbrook Management LLC increased its stake in shares of Alkami Technology by 2.3% during the fourth quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock worth $1,502,000 after buying an additional 1,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Alkami Technology by 9.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock valued at $322,000 after acquiring an additional 1,494 shares in the last quarter. Hedge funds and other 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.