Alkami Technology (NASDAQ:ALKT) Upgraded at Stephens

Stephens upgraded shares of Alkami Technology (NASDAQ:ALKT) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat.com reports. Stephens currently has $40.00 price target on the stock.

Several other equities analysts have also recently issued reports on ALKT. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, 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 research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $25.26 on Thursday. The business has a 50-day moving average of $32.54 and a 200 day moving average of $34.63. Alkami Technology has a 12 month low of $22.65 and a 12 month high of $42.29. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.74 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.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) EPS 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 firm had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. As a group, sell-side analysts forecast that Alkami Technology will post -0.34 earnings per share for the current year.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $14,072,256.57. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,767 shares of company stock valued at $7,981,934 over the last three months. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Several large investors have recently modified their holdings of ALKT. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the fourth quarter worth approximately $34,000. Advisors Asset Management Inc. raised its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the last quarter. Quarry LP purchased a new stake in shares of Alkami Technology during the fourth quarter worth approximately $61,000. Covestor Ltd raised its stake in shares of Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Alkami Technology in the fourth quarter worth $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.