Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Rating of "Moderate Buy" by Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.88.

ALKT has been the topic of several analyst reports. Barclays reduced their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Lake Street Capital reduced their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Needham & Company LLC reduced their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at $13,703,354.20. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph P. Payne purchased 8,200 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the purchase, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. This represents a 63.43% increase in their position. The disclosure for this purchase can be found here. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Alkami Technology

A number of hedge funds have recently made changes to their positions in ALKT. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology during the fourth quarter valued at about $34,000. Perkins Coie Trust Co raised its position in shares of Alkami Technology by 62.5% during the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Alkami Technology during the first quarter worth about $36,000. Amalgamated Bank raised its position in shares of Alkami Technology by 50.8% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after acquiring an additional 704 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Alkami Technology during the first quarter worth about $59,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Down 2.2%

ALKT opened at $29.21 on Friday. Alkami Technology has a 1-year low of $21.70 and a 1-year high of $42.29. The stock's fifty day simple moving average is $26.73 and its 200 day simple moving average is $32.32. 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 stock has a market cap of $3.01 billion, a PE ratio of -62.15 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, research analysts expect that Alkami Technology will post -0.34 earnings per share for the current year.

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.

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