Alkami Technology (NASDAQ:ALKT) Price Target Raised to $45.00

Alkami Technology (NASDAQ:ALKT) had its price target increased by Craig Hallum from $38.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on ALKT. Barclays upped their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Needham & Company LLC raised their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday. Lake Street Capital upped 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 price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $37.60 on Thursday. 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 $3.72 billion, a PE ratio of -80.00 and a beta of 0.46. Alkami Technology has a 12-month low of $18.03 and a 12-month high of $41.36. The company’s fifty day simple moving average is $33.18 and its two-hundred day simple moving average is $30.24.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating 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 firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that Alkami Technology will post -0.36 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 784,549 shares of the company’s stock, valued at $24,454,392.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the sale, the insider now owns 8,419,784 shares in the company, valued at $262,444,667.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the transaction, the director now owns 784,549 shares of the company’s stock, valued at $24,454,392.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,648,416 shares of company stock worth $113,920,758. Insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC grew its stake in shares of Alkami Technology by 16.1% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after buying an additional 500 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after buying an additional 691 shares during the period. Park Place Capital Corp bought a new position in Alkami Technology in the 3rd quarter valued at $28,000. Blue Trust Inc. increased its stake in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the period. Finally, Swiss National Bank lifted its position in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after purchasing an additional 1,100 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

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.