Alkami Technology’s (ALKT) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Monday, Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other research firms also recently commented on ALKT. William Blair reaffirmed an outperform rating on shares of Alkami Technology in a research report on Thursday, February 29th. The Goldman Sachs Group lowered Alkami Technology from a buy rating to a neutral rating and lifted their price objective for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Barclays increased their target price on Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price target on Alkami Technology from $27.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, KeyCorp increased their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a research note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology currently has an average rating of Moderate Buy and a consensus target price of $26.10.

Alkami Technology Stock Up 0.8 %

NASDAQ:ALKT opened at $24.04 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a market cap of $2.34 billion, a P/E ratio of -36.42 and a beta of 0.40. Alkami Technology has a fifty-two week low of $10.93 and a fifty-two week high of $26.75. The firm has a 50-day simple moving average of $24.40 and a two-hundred day simple moving average of $22.85.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The business had revenue of $71.37 million for the quarter, compared to analysts’ expectations of $71.12 million. Analysts predict that Alkami Technology will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the sale, the insider now directly owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,734 shares of company stock valued at $2,658,864. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new position in shares of Alkami Technology during the first quarter worth $37,178,000. Contravisory Investment Management Inc. purchased a new stake in Alkami Technology in the 1st quarter worth $248,000. NBC Securities Inc. boosted its holdings in shares of Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Alkami Technology by 98.5% during the fourth quarter. Quadrature Capital Ltd now owns 23,347 shares of the company’s stock valued at $566,000 after purchasing an additional 11,585 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.