Alkami Technology (NASDAQ:ALKT) PT Raised to $36.00

Alkami Technology (NASDAQ:ALKT) had its price objective hoisted by Lake Street Capital from $30.00 to $36.00 in a research note released on Thursday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other research analysts have also weighed in on ALKT. Needham & Company LLC reaffirmed a buy rating and issued a $32.00 price objective on shares of Alkami Technology in a research note on Tuesday, June 25th. Craig Hallum lifted their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a buy rating in a research note on Thursday. Barclays upped their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an equal weight rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the company a neutral rating in a research note on Thursday. Finally, JMP Securities increased their price target on shares of Alkami Technology from $30.00 to $35.00 and gave the company a market outperform rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of Moderate Buy and a consensus price target of $32.50.

Alkami Technology Stock Performance

Shares of Alkami Technology stock traded down $1.00 during trading hours on Thursday, reaching $32.86. The company’s stock had a trading volume of 57,257 shares, compared to its average volume of 409,797. Alkami Technology has a one year low of $14.93 and a one year high of $36.00. The stock’s fifty day simple moving average is $29.22 and its two-hundred day simple moving average is $26.38. The company has a quick ratio of 3.92, a current 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 for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.47%. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. During the same period last year, the firm earned ($0.16) earnings per share. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, research analysts forecast that Alkami Technology will post -0.38 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of Alkami Technology stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of the business’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 owns 262,749 shares in the company, valued at $7,049,555.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the business’s 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 sale, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Insiders have sold 1,848,472 shares of company stock valued at $49,241,550 over the last 90 days. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors raised its holdings in Alkami Technology by 15.6% in the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after purchasing an additional 632,061 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after acquiring an additional 88,390 shares in the last quarter. Wasatch Advisors LP acquired a new position in Alkami Technology in the 1st quarter worth approximately $37,178,000. The Manufacturers Life Insurance Company increased its holdings in Alkami Technology by 3,727.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock worth $20,719,000 after buying an additional 832,059 shares during the period. Finally, Scalar Gauge Management LLC acquired a new position in Alkami Technology in the 4th quarter worth approximately $20,694,000. 54.97% of the stock is owned by hedge funds and other 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.