Alkami Technology, Inc. (NASDAQ:ALKT) Receives $39.25 Average PT from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.25.

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of 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. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price target for the company.

Alkami Technology Price Performance

NASDAQ:ALKT traded down $0.92 on Friday, hitting $28.06. The company had a trading volume of 510,555 shares, compared to its average volume of 919,492. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -74.12 and a beta of 0.59. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average of $29.42 and a two-hundred day moving average of $29.76. Alkami Technology has a 52 week low of $21.70 and a 52 week high of $42.29.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the completion of the sale, the chief financial officer directly owned 430,255 shares in the company, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph P. Payne acquired 8,200 shares of Alkami Technology stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $30.46 per share, with a total value of $249,772.00. Following the completion of the acquisition, the director directly owned 21,128 shares of the company's stock, valued at approximately $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. raised its position in Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after acquiring an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC bought a new stake in Alkami Technology in the fourth quarter worth about $78,878,000. Champlain Investment Partners LLC bought a new stake in Alkami Technology in the fourth quarter worth about $57,772,000. Praesidium Investment Management Company LLC bought a new stake in Alkami Technology in the first quarter worth about $40,223,000. Finally, Invesco Ltd. raised its position in Alkami Technology by 353.1% in the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock worth $53,411,000 after acquiring an additional 1,134,746 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.