Alkami Technology (NASDAQ:ALKT) Reaches New 1-Year High at $28.25

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $28.25 and last traded at $28.25, with a volume of 150 shares traded. The stock had previously closed at $27.33.

Wall Street Analyst Weigh In

ALKT has been the subject of several recent research reports. Needham & Company LLC increased their price target on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. William Blair reissued an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. The Goldman Sachs Group lowered shares of Alkami Technology from a “buy” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $27.00 in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Alkami Technology Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market cap of $2.69 billion, a PE ratio of -46.05 and a beta of 0.40. The company’s 50 day moving average price is $24.17 and its 200-day moving average price is $23.54.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. During the same quarter last year, the firm posted ($0.16) EPS. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 of the company’s stock, valued at approximately $10,009,625.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 50,089 shares of the firm’s 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 sale, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. 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 25.90% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors have recently modified their holdings of the company. Beaird Harris Wealth Management LLC lifted its stake 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 worth $38,000 after purchasing an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Alkami Technology in the third quarter worth about $39,000. NBC Securities Inc. bought a new stake in shares of Alkami Technology in the 4th quarter valued at about $43,000. SG Americas Securities LLC bought a new position in Alkami Technology during the 3rd quarter worth approximately $110,000. Finally, Quest Partners LLC purchased a new position in Alkami Technology in the 4th quarter worth approximately $113,000. 54.97% of the stock is currently owned by institutional investors.

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.