Alkami Technology (NASDAQ:ALKT) Shares Gap Up – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT) gapped up prior to trading on Thursday . The stock had previously closed at $24.28, but opened at $24.89. Alkami Technology shares last traded at $24.83, with a volume of 149,388 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALKT shares. Barclays lowered their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group reduced their price objective 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, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Stock Up 0.0 %

The stock’s fifty day moving average is $32.54 and its 200 day moving average is $34.63. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.58 billion, a P/E ratio of -53.74 and a beta of 0.49.

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

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,767 shares of company stock worth $7,981,934. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the 4th quarter valued at about $34,000. Advisors Asset Management Inc. grew its position in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Quarry LP purchased a new stake in Alkami Technology during the 4th quarter valued at about $61,000. Neo Ivy Capital Management purchased a new stake in Alkami Technology during the 4th quarter valued at about $96,000. Finally, Blue Trust Inc. grew its position in Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after purchasing an additional 1,974 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

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.