Alkami Technology (NASDAQ:ALKT) Price Target Raised to $41.00

Alkami Technology (NASDAQ:ALKT) had its target price upped by Barclays from $35.00 to $41.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. 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 $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC increased their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum upped their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Lake Street Capital increased their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $37.60 on Thursday. Alkami Technology has a 52 week low of $18.03 and a 52 week high of $41.36. The company has a market cap of $3.72 billion, a P/E ratio of -80.00 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. The business has a 50 day moving average of $33.18 and a two-hundred day moving average of $30.24.

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

Insiders Place Their Bets

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 stock was 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 in the company, valued at approximately $31,422,158.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Alex Shootman sold 37,758 shares of Alkami Technology 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 transaction, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the firm’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 completion of the transaction, the director now owns 15,555,049 shares in the company, valued at $484,850,877.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,648,416 shares of company stock valued at $113,920,758 over the last quarter. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in ALKT. Trust Point Inc. bought a new position in shares of Alkami Technology during the 3rd quarter worth about $1,029,000. Lisanti Capital Growth LLC acquired a new stake in shares of Alkami Technology during the 1st quarter valued at about $3,316,000. Driehaus Capital Management LLC increased its stake in Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the period. Millennium Management LLC raised its position in Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Alkami Technology by 24.0% during the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after purchasing an additional 40,949 shares during the period. Institutional investors and hedge funds 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.