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

Alkami Technology, Inc. (NASDAQ:ALKT) has been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $33.89.

Several brokerages recently weighed in on ALKT. Lake Street Capital lifted their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group raised their target price 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. JMP Securities raised their target price on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Insider Buying and Selling at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,593,370 shares of company stock valued at $112,203,873. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the 2nd quarter worth about $40,000. NBC Securities Inc. acquired a new stake in shares of Alkami Technology during the fourth quarter worth approximately $43,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology during the second quarter worth approximately $85,000. nVerses Capital LLC purchased a new position in Alkami Technology during the second quarter valued at approximately $88,000. Finally, Quest Partners LLC acquired a new position in Alkami Technology in the 4th quarter valued at approximately $113,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Up 1.2 %

Shares of NASDAQ:ALKT opened at $30.62 on Friday. The company has a market cap of $2.99 billion, a PE ratio of -51.03 and a beta of 0.47. The company’s 50-day moving average price is $31.83 and its 200 day moving average price is $27.87. Alkami Technology has a fifty-two week low of $16.49 and a fifty-two week high of $36.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. Alkami Technology’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. Sell-side analysts anticipate that Alkami Technology will post -0.36 earnings per share for the current year.

About Alkami Technology

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.