Alkami Technology (NASDAQ:ALKT) Reaches New 12-Month High at $36.00

Alkami Technology, Inc. (NASDAQ:ALKT) shares reached a new 52-week high on Thursday . The company traded as high as $36.00 and last traded at $35.27, with a volume of 75564 shares. The stock had previously closed at $32.73.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Alkami Technology in a research note on Tuesday, June 25th. Barclays increased their price target on shares of Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Craig Hallum increased their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, JMP Securities raised their price objective on shares of Alkami Technology from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Three investment 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 has an average rating of “Moderate Buy” and an average price target of $28.56.

Alkami Technology Stock Up 4.2 %

The firm’s 50-day moving average price is $29.08 and its 200 day moving average price is $26.33. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -54.55 and a beta of 0.47. 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 released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) EPS. On average, sell-side analysts forecast that Alkami Technology, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the transaction, the insider now directly owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction 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 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. In the last ninety days, insiders sold 1,848,472 shares of company stock worth $49,241,550. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $43,000. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology in the second quarter valued at about $85,000. nVerses Capital LLC purchased a new stake in Alkami Technology during the second quarter worth about $88,000. Quest Partners LLC purchased a new stake in Alkami Technology during the fourth quarter worth about $113,000. Finally, Acadian Asset Management LLC purchased a new stake in Alkami Technology during the first quarter worth about $140,000. 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.