Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of “Moderate Buy” by Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.56.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Alkami Technology in a report on Tuesday, June 25th. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Finally, Craig Hallum upped their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd.

Alkami Technology Stock Up 2.0 %

ALKT stock opened at $29.06 on Tuesday. Alkami Technology has a 12 month low of $14.93 and a 12 month high of $29.28. The firm has a market cap of $2.83 billion, a PE ratio of -48.43 and a beta of 0.47. The firm has a 50 day simple moving average of $26.55 and a 200 day simple moving average of $25.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year. Equities research analysts forecast that Alkami Technology will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the transaction, the director now directly 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 quarter, insiders have sold 1,848,472 shares of company stock valued at $49,241,550. 25.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology in the first quarter valued at approximately $5,569,000. Silvercrest Asset Management Group LLC raised its holdings in shares of Alkami Technology by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock valued at $8,114,000 after purchasing an additional 14,316 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Alkami Technology in the first quarter valued at approximately $1,840,000. Price T Rowe Associates Inc. MD increased its holdings in Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after buying an additional 1,460 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Alkami Technology during the first quarter worth $237,000. 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.