Needham & Company LLC Raises Alkami Technology (NASDAQ:ALKT) Price Target to $32.00

Alkami Technology (NASDAQ:ALKT) had its price objective boosted by Needham & Company LLC from $30.00 to $32.00 in a research note released on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, February 29th. The Goldman Sachs Group downgraded shares of Alkami Technology from a buy rating to a neutral rating and upped their price target for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. JMP Securities reissued a market outperform rating and set a $30.00 price objective on shares of Alkami Technology in a report on Monday, April 15th. Barclays upped their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. Finally, KeyCorp boosted their price target on Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $26.90.

Alkami Technology Stock Up 2.4 %

Shares of ALKT opened at $27.33 on Thursday. The firm has a 50 day simple moving average of $24.15 and a two-hundred day simple moving average of $23.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. Alkami Technology has a one year low of $11.23 and a one year high of $27.87. The company has a market cap of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. Alkami Technology’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. Research analysts forecast that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the sale, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the transaction, the insider now owns 262,749 shares in the company, valued at $6,198,248.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the sale, the insider now owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold a total of 112,734 shares of company stock valued at $2,658,864 over the last ninety days. 38.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Beaird Harris Wealth Management LLC lifted its position in shares of Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after acquiring an additional 500 shares during the period. Swiss National Bank raised its holdings in shares of Alkami Technology by 1.1% during the third quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after purchasing an additional 1,000 shares during the period. NBC Securities Inc. boosted its position 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 worth $71,000 after purchasing an additional 1,102 shares in the last quarter. Penbrook Management LLC grew its stake in shares of Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock valued at $1,502,000 after buying an additional 1,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Alkami Technology by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock valued at $322,000 after buying an additional 1,494 shares in the last quarter. 54.97% of the stock is currently owned by 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.