Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $33.89

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.89.

A number of research firms have recently weighed in on ALKT. JMP Securities raised their price target on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 1st. Lake Street Capital raised their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays raised their price objective on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Craig Hallum raised their price objective on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Alkami Technology Trading Up 2.9 %

Shares of ALKT stock opened at $33.88 on Thursday. The stock has a 50-day simple moving average of $31.62 and a 200 day simple moving average of $28.87. Alkami Technology has a fifty-two week low of $16.49 and a fifty-two week high of $36.00. The stock has a market capitalization of $3.35 billion, a P/E ratio of -62.74 and a beta of 0.46. 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 released its quarterly 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 return on equity of 13.43% and a negative net margin of 17.47%. The business had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. During the same quarter last year, the company posted ($0.17) EPS. Alkami Technology’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In related news, insider Stephen Bohanon sold 15,605 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the sale, the insider now owns 388,181 shares of the company’s stock, valued at $12,262,637.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Bohanon sold 15,605 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the sale, the insider now owns 388,181 shares of the company’s stock, valued at $12,262,637.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,937 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $566,629.83. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $14,891,620.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors have recently bought and sold shares of ALKT. Scalar Gauge Management LLC bought a new stake in shares of Alkami Technology during the fourth quarter worth $20,694,000. Bullseye Asset Management LLC raised its position in shares of Alkami Technology by 23.1% during the fourth quarter. Bullseye Asset Management LLC now owns 79,988 shares of the company’s stock worth $1,940,000 after acquiring an additional 15,000 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Alkami Technology by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after acquiring an additional 267,336 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Alkami Technology by 98.5% during the fourth quarter. Quadrature Capital Ltd now owns 23,347 shares of the company’s stock worth $566,000 after acquiring an additional 11,585 shares during the last quarter. Finally, NBC Securities Inc. raised its position in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after acquiring an additional 1,102 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

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.