Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $33.89

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $33.89.

Several analysts have recently issued reports on the stock. JMP Securities boosted their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Barclays boosted their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Lake Street Capital boosted 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. Needham & Company LLC boosted their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Craig Hallum boosted their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Alkami Technology Trading Up 3.5 %

Shares of ALKT stock opened at $32.05 on Friday. The firm has a 50-day moving average price of $31.86 and a 200 day moving average price of $27.89. Alkami Technology has a twelve month low of $16.49 and a twelve month high of $36.00. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -53.42 and a beta of 0.47. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The business had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same period last year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Research analysts forecast that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder George B. Kaiser sold 1,666,666 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the completion of the transaction, the insider now owns 8,419,784 shares in the company, valued at approximately $262,444,667.28. The disclosure for this sale can be found here. In the last three months, insiders sold 3,593,370 shares of company stock valued at $112,203,873. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at about $40,000. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $43,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at about $85,000. nVerses Capital LLC acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at about $88,000. Finally, Quest Partners LLC acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $113,000. Institutional investors and hedge funds 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.