Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $39.88

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $39.88.

ALKT has been the subject of a number of recent research reports. Barclays reduced their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a report on Thursday, March 13th. JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Finally, Needham & Company LLC dropped their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Alkami Technology by 86.8% during the 4th quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock worth $10,595,000 after buying an additional 134,198 shares in the last quarter. Rhumbline Advisers increased its position in shares of Alkami Technology by 16.9% during the fourth quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares in the last quarter. Geode Capital Management LLC raised its stake in Alkami Technology by 15.8% in the 4th quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock valued at $52,320,000 after purchasing an additional 194,051 shares during the last quarter. Vanguard Group Inc. raised its stake in Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after purchasing an additional 843,129 shares during the last quarter. Finally, Dakota Wealth Management purchased a new position in Alkami Technology in the 4th quarter valued at $518,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Down 1.2%

Shares of ALKT traded down $0.35 during mid-day trading on Friday, hitting $28.89. 785,550 shares of the company traded hands, compared to its average volume of 852,768. The business has a 50 day moving average of $26.96 and a 200 day moving average of $32.06. The company has a market capitalization of $2.98 billion, a PE ratio of -61.47 and a beta of 0.56. Alkami Technology has a 1-year low of $21.70 and a 1-year high of $42.29. 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 - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $89.63 million. Equities research analysts anticipate that Alkami Technology will post -0.34 EPS 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.