Alkami Technology (NASDAQ:ALKT) PT Raised to $35.00

Alkami Technology (NASDAQ:ALKT) had its target price increased by Barclays from $31.00 to $35.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on ALKT. JMP Securities upped their price target on Alkami Technology from $30.00 to $35.00 and gave the company a market outperform rating in a research report on Monday, July 22nd. Needham & Company LLC reissued a buy rating and set a $32.00 price objective on shares of Alkami Technology in a report on Tuesday, June 25th. Finally, Craig Hallum raised 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Alkami Technology presently has a consensus rating of Moderate Buy and an average target price of $32.50.

Alkami Technology Stock Down 5.8 %

Shares of NASDAQ:ALKT opened at $30.36 on Thursday. Alkami Technology has a 1 year low of $14.93 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. The business has a fifty day moving average price of $29.32 and a two-hundred day moving average price of $26.46. The company has a market capitalization of $2.96 billion, a PE ratio of -53.73 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Analysts forecast that Alkami Technology will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the sale, the director now owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $28.80, for a total value of $2,880,000.00. Following the completion of the transaction, the chief financial officer now owns 505,877 shares in the company, valued at approximately $14,569,257.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,777,442 shares of company stock worth $47,335,815. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in Alkami Technology during the fourth quarter valued at $43,000. Perkins Coie Trust Co purchased a new position in Alkami Technology during the second quarter valued at $85,000. nVerses Capital LLC bought a new stake in shares of Alkami Technology in the 2nd quarter worth $88,000. Quest Partners LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth $113,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Alkami Technology in the first quarter worth $140,000. Hedge funds and other institutional investors 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.