Alkami Technology, Inc. (NASDAQ:ALKT) Receives $33.89 Consensus Target Price from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $33.89.

ALKT has been the topic of several analyst reports. JMP Securities upped their target price on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price objective on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Lake Street Capital increased their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

Alkami Technology Price Performance

Shares of ALKT opened at $33.70 on Wednesday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a twelve month low of $16.43 and a twelve month high of $36.00. The stock has a market capitalization of $3.29 billion, a P/E ratio of -56.17 and a beta of 0.47. The company has a 50 day moving average of $30.50 and a 200-day moving average of $27.10.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.47%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities research analysts forecast that Alkami Technology will post -0.38 EPS 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 dated 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 completion of the sale, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was 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 in the company, valued at $12,585,824.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Bohanon sold 22,171 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $26.88, for a total value of $595,956.48. Following the completion of the sale, the insider now owns 407,940 shares of the company’s stock, valued at $10,965,427.20. The disclosure for this sale can be found here. Insiders have sold 3,538,837 shares of company stock valued at $109,665,436 over the last ninety days. 38.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds have recently bought and sold shares of ALKT. Point72 Asset Management L.P. acquired a new position in shares of Alkami Technology during the 2nd quarter worth approximately $40,000. NBC Securities Inc. bought a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $43,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology during the second quarter worth approximately $85,000. nVerses Capital LLC bought a new position in Alkami Technology during the 2nd quarter worth $88,000. Finally, Quest Partners LLC acquired a new position in Alkami Technology in the 4th quarter valued at $113,000. 54.97% of the stock is 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.