Alkami Technology (NASDAQ:ALKT) Given New $41.00 Price Target at JMP Securities

Alkami Technology (NASDAQ:ALKT) had its price target lifted by JMP Securities from $38.00 to $41.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also weighed in on ALKT. Barclays boosted their price objective 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. Lake Street Capital upped their price target 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 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. Needham & Company LLC boosted their target price on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Alkami Technology Trading Down 4.1 %

Shares of ALKT stock opened at $36.61 on Tuesday. The business has a 50-day moving average price of $33.11 and a two-hundred day moving average price of $30.10. Alkami Technology has a 12-month low of $17.32 and a 12-month high of $41.36. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.62 billion, a P/E ratio of -67.80 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping 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 company had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same quarter in the previous year, the company posted ($0.17) EPS. Alkami Technology’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Alkami Technology will post -0.36 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In related news, CEO Alex Shootman sold 37,758 shares of Alkami Technology 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 sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 55,046 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at $14,703,059.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 over the last quarter. 38.00% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

Hedge funds have recently modified their holdings of the business. Park Place Capital Corp purchased a new position in Alkami Technology during the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its stake in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Alkami Technology during the second quarter valued at approximately $40,000. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology in the 2nd quarter worth approximately $85,000. Finally, nVerses Capital LLC purchased a new stake in shares of Alkami Technology in the 2nd quarter worth approximately $88,000. 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.