Alkami Technology (NASDAQ:ALKT) Given New $54.00 Price Target at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price target raised by analysts at Needham & Company LLC from $43.00 to $54.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 43.62% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Barclays lifted their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Craig Hallum lifted their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Lake Street Capital lifted their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities lifted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Stock Up 2.7 %

NASDAQ ALKT opened at $37.60 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. The company’s 50 day simple moving average is $33.18 and its 200 day simple moving average is $30.19. Alkami Technology has a 12 month low of $18.03 and a 12 month high of $41.36. The company has a market capitalization of $3.72 billion, a P/E ratio of -80.00 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.43%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts expect that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In related news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred 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 directly owns 1,056,207 shares of the company’s stock, 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 hyperlink. Also, insider Stephen Bohanon sold 35,893 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the completion of the sale, the insider now directly owns 403,786 shares of the company’s stock, valued at $13,567,209.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in Alkami Technology during the 3rd quarter valued at $875,000. Olympiad Research LP acquired a new position in Alkami Technology during the 3rd quarter valued at $429,000. Arlington Capital Management Inc. increased its holdings in Alkami Technology by 3.5% in the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock valued at $2,239,000 after buying an additional 2,417 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares during the period. Finally, US Bancorp DE bought a new stake in Alkami Technology in the 3rd quarter valued at $259,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.