Alkami Technology (NASDAQ:ALKT) Stock Rating Reaffirmed by Needham & Company LLC

Alkami Technology (NASDAQ:ALKT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $32.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 18.78% from the stock’s previous close.

A number of other research analysts also recently commented on ALKT. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Alkami Technology in a research report on Monday, April 15th. Barclays upped their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Craig Hallum lifted their price target on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average target price of $26.90.

Alkami Technology Trading Up 1.7 %

NASDAQ ALKT opened at $26.94 on Tuesday. Alkami Technology has a 12 month low of $14.93 and a 12 month high of $29.28. The company’s 50-day moving average price is $26.28 and its 200-day moving average price is $25.00. The stock has a market cap of $2.63 billion, a PE ratio of -44.90 and a beta of 0.46. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. Equities research analysts forecast that Alkami Technology will post -0.38 earnings per share for the current year.

Insider Transactions at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares in the company, valued at $455,970,712.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares in the company, valued at $455,970,712.05. The disclosure for this sale can be found here. Insiders have sold 1,848,472 shares of company stock worth $49,241,550 over the last 90 days. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC lifted its stake in Alkami Technology by 138.3% during the 4th quarter. Jump Financial LLC now owns 55,767 shares of the company’s stock worth $1,352,000 after acquiring an additional 32,367 shares in the last quarter. PEAK6 Investments LLC increased its holdings in shares of Alkami Technology by 217.3% in the 3rd quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock valued at $2,069,000 after acquiring an additional 77,750 shares during the period. Trexquant Investment LP purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $1,094,000. SG Americas Securities LLC lifted its position in Alkami Technology by 1,283.9% during the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock worth $2,030,000 after acquiring an additional 77,677 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Alkami Technology during the third quarter worth $214,000. 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.