Alkami Technology (NASDAQ:ALKT) Given “Buy” Rating at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $32.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 23.31% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research report on Monday, April 15th. JPMorgan Chase & Co. upped 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. Barclays raised their target price on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Finally, Craig Hallum upped their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Three 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Alkami Technology Trading Up 1.0 %

Shares of ALKT stock opened at $25.95 on Tuesday. Alkami Technology has a 1 year low of $14.93 and a 1 year high of $29.28. The firm has a market capitalization of $2.53 billion, a PE ratio of -43.25 and a beta of 0.46. The stock has a fifty day moving average of $26.17 and a two-hundred day moving average of $24.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $76.10 million for 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%. Alkami Technology’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. As a group, research analysts expect that Alkami Technology will post -0.38 EPS for the current year.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the sale, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,848,472 shares of company stock worth $49,241,550. 25.90% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in ALKT. NBC Securities Inc. bought a new position in shares of Alkami Technology during the 4th quarter valued at $43,000. Beaird Harris Wealth Management LLC raised its holdings in Alkami Technology by 31.7% during 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. Quest Partners LLC acquired a new stake in shares of Alkami Technology in the fourth quarter worth about $113,000. Acadian Asset Management LLC acquired a new position in shares of Alkami Technology during the 1st quarter valued at about $140,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after acquiring an additional 5,445 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.