Craig Hallum Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective boosted by Craig Hallum from $38.00 to $45.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC raised their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price target on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Lake Street Capital raised their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price target on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, JMP Securities lifted their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.89.

Alkami Technology Stock Performance

Shares of ALKT stock traded up $0.63 during midday trading on Thursday, reaching $37.24. 37,065 shares of the stock were exchanged, compared to its average volume of 452,428. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $33.11 and its two-hundred day moving average is $30.10. Alkami Technology has a 1 year low of $18.03 and a 1 year high of $41.36.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. Research analysts expect that Alkami Technology will post -0.36 EPS for the current year.

Insider Activity

In other news, CFO W Bryan Hill sold 55,046 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the sale, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 in the last ninety days. Company insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors have recently made changes to their positions in the company. Park Place Capital Corp acquired a new position in shares of Alkami Technology in the third quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Alkami Technology during the second quarter worth about $40,000. Perkins Coie Trust Co acquired a new position in Alkami Technology during the second quarter worth about $85,000. Finally, nVerses Capital LLC acquired a new position in Alkami Technology during the second quarter worth about $88,000. 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.