Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.89.

ALKT has been the subject of several analyst reports. Barclays increased their target price on shares of 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 increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities boosted their target price on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their price target on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum lifted their price target on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $31.64 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The firm’s 50-day simple moving average is $31.91 and its 200 day simple moving average is $27.97. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -52.73 and a beta of 0.47. Alkami Technology has a fifty-two week low of $16.49 and a fifty-two week high of $36.00.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company 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 13.43% and a negative net margin of 17.47%. Alkami Technology’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. As a group, research analysts anticipate that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares in the company, valued at $12,262,637.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Bohanon sold 15,605 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $492,961.95. Following the sale, the insider now owns 388,181 shares in the company, valued at $12,262,637.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,593,370 shares of company stock valued at $112,203,873. 38.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alkami Technology by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,781 shares of the company’s stock worth $7,512,000 after buying an additional 8,452 shares in the last quarter. NBC Securities Inc. bought a new stake in Alkami Technology during the 4th quarter worth approximately $43,000. Dynamic Technology Lab Private Ltd purchased a new stake in Alkami Technology in the 4th quarter worth approximately $447,000. Trexquant Investment LP purchased a new stake in Alkami Technology in the 4th quarter worth approximately $1,094,000. Finally, Quest Partners LLC bought a new position in Alkami Technology in the 4th quarter valued at $113,000. 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.