Alkami Technology, Inc. (NASDAQ:ALKT) Receives $37.44 Consensus Price Target from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.44.

Several research analysts have commented on ALKT shares. Needham & Company LLC lifted their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum lifted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JMP Securities lifted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $39.47 on Friday. The stock’s 50-day moving average is $35.99 and its 200 day moving average is $32.08. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -83.98 and a beta of 0.43. Alkami Technology has a 1-year low of $21.19 and a 1-year high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,937 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $566,629.83. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $14,891,620.77. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. The trade was a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,360,428 shares of company stock worth $244,916,568 in the last 90 days. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after purchasing an additional 75,469 shares during the period. Geode Capital Management LLC raised its holdings in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Bullseye Asset Management LLC lifted its position in Alkami Technology by 6.2% during the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock valued at $2,707,000 after buying an additional 5,000 shares during the period. Barclays PLC boosted its holdings in shares of Alkami Technology by 108.2% during the 3rd quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after buying an additional 49,580 shares in the last quarter. Finally, Castleark Management LLC purchased a new stake in shares of Alkami Technology in the 3rd quarter worth about $6,050,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.