Alkami Technology (NASDAQ:ALKT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Alkami Technology (NASDAQ:ALKT) had its price objective increased by The Goldman Sachs Group from $34.00 to $39.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently commented on ALKT. Lake Street Capital boosted their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Needham & Company LLC raised their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Craig Hallum raised their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a fifty day moving average of $33.18 and a 200 day moving average of $30.28. The firm has a market cap of $3.72 billion, a PE ratio of -80.00 and a beta of 0.43. Alkami Technology has a one year low of $18.03 and a one year high of $41.36.

Insiders Place Their Bets

In other news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alkami Technology news, CFO W Bryan Hill sold 69,511 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the transaction, the chief financial officer now owns 489,340 shares of the company’s stock, valued at $16,314,595.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This represents 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 in the last three months. 38.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in Alkami Technology in the third quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new position in Alkami Technology during the 2nd quarter worth about $40,000. Covestor Ltd boosted its holdings in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after acquiring an additional 2,646 shares during the period. Finally, Perkins Coie Trust Co acquired a new position in Alkami Technology in the 2nd quarter valued at about $85,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.