Alkami Technology, Inc. (NASDAQ:ALKT) Receives $26.90 Average Price Target from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKTGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.90.

Several equities analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. Craig Hallum raised their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Needham & Company LLC raised their price objective on Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th.

Read Our Latest Report on ALKT

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the transaction, the chief financial officer now owns 505,877 shares in the company, valued at $14,569,257.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Bohanon sold 12,450 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $28.66, for a total value of $356,817.00. Following the completion of the transaction, the insider now directly owns 449,552 shares of the company’s stock, valued at $12,884,160.32. The disclosure for this sale can be found here. Insiders sold a total of 1,777,524 shares of company stock worth $47,338,327 in the last three months. 25.90% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alkami Technology in the 1st quarter worth $5,569,000. Silvercrest Asset Management Group LLC raised its position in Alkami Technology by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock worth $8,114,000 after acquiring an additional 14,316 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Alkami Technology in the 1st quarter valued at about $1,840,000. Price T Rowe Associates Inc. MD boosted its position in shares of Alkami Technology by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after purchasing an additional 1,460 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Alkami Technology in the 1st quarter worth approximately $237,000. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

Alkami Technology stock opened at $26.16 on Friday. The stock has a market capitalization of $2.55 billion, a P/E ratio of -43.60 and a beta of 0.46. Alkami Technology has a 12-month low of $14.93 and a 12-month high of $29.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. The firm’s 50-day moving average is $25.95 and its two-hundred day moving average is $24.80.

Alkami Technology (NASDAQ:ALKTGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) earnings per share. Equities analysts predict that Alkami Technology will post -0.38 earnings per share for the current year.

About Alkami Technology

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

Receive News & Ratings for Alkami Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkami Technology and related companies with MarketBeat.com's FREE daily email newsletter.