Alkami Technology (NASDAQ:ALKT) Shares Gap Up – Time to Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) shares gapped up prior to trading on Thursday . The stock had previously closed at $24.28, but opened at $24.89. Alkami Technology shares last traded at $24.83, with a volume of 149,388 shares trading hands.

Analyst Ratings Changes

ALKT has been the topic of a number of research reports. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Thursday. Barclays decreased their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Stock Up 3.3 %

The company has a market cap of $2.57 billion, a price-to-earnings ratio of -53.22 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a 50-day moving average price of $33.02 and a 200 day moving average price of $34.75.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Sell-side analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $14,072,256.57. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,767 shares of company stock valued at $7,981,934 in the last quarter. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $4,384,000. Jefferies Financial Group Inc. purchased a new position in Alkami Technology in the 4th quarter worth $2,704,000. Mackenzie Financial Corp lifted its stake in Alkami Technology by 244.9% in the fourth quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock worth $972,000 after purchasing an additional 18,823 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Alkami Technology by 18.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock valued at $3,036,000 after buying an additional 12,952 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Alkami Technology during the fourth quarter valued at about $96,000. 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.