Alkami Technology, Inc. (NASDAQ:ALKT) Receives $41.00 Consensus Price Target from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $41.00.

ALKT has been the subject of several recent analyst reports. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Thursday, March 13th. The Goldman Sachs Group lowered their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Barclays lowered their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock worth $4,004,934 in the last 90 days. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently bought and sold shares of the company. NBC Securities Inc. lifted its stake in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock valued at $60,000 after purchasing an additional 2,291 shares during the period. Rhumbline Advisers lifted its stake in shares of Alkami Technology by 17.4% in the first quarter. Rhumbline Advisers now owns 88,430 shares of the company’s stock valued at $2,321,000 after purchasing an additional 13,078 shares during the period. GAMMA Investing LLC lifted its stake in shares of Alkami Technology by 1,386.9% in the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company’s stock valued at $288,000 after purchasing an additional 10,235 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Alkami Technology in the first quarter valued at about $36,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $4,384,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Up 10.6 %

ALKT opened at $24.92 on Thursday. The firm has a 50-day simple moving average of $28.65 and a two-hundred day simple moving average of $33.85. Alkami Technology has a 52 week low of $21.70 and a 52 week high of $42.29. The company has a market capitalization of $2.57 billion, a PE ratio of -53.02 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

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.