Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Price Target at $37.44

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.44.

Several research analysts have recently commented on the company. Craig Hallum lifted their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities lifted their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Lake Street Capital lifted their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Insider Buying and Selling

In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 69,511 shares of Alkami Technology 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 completion of the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at approximately $16,314,595.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,065,083 shares of company stock valued at $205,073,268. 25.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently bought and sold shares of the company. Park Place Capital Corp acquired a new position in Alkami Technology in the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. grew its position 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 worth $38,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Alkami Technology during the second quarter worth about $40,000. Finally, Perkins Coie Trust Co acquired a new position in shares of Alkami Technology during the second quarter worth about $85,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Trading Up 0.3 %

Shares of ALKT stock opened at $37.87 on Monday. Alkami Technology has a fifty-two week low of $20.38 and a fifty-two week high of $41.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock’s fifty day moving average is $33.56 and its two-hundred day moving average is $30.58. The firm has a market capitalization of $3.81 billion, a P/E ratio of -80.34 and a beta of 0.43.

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.