Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have given Alkami an average rating of "Hold" from eight covering the stock (1 sell, 3 hold, 4 buy) with an average 12-month price target of about $26.67, and several firms recently cut targets (Needham and JPMorgan to $22, Barclays to $21, Citizens to $28).
• Director Atlantic Genpar bought 500,000 shares at $18.33 (~$9.17M), boosting their stake to ~15.38M shares, while insiders overall net acquired 3.35M shares (~$59.8M) in the last three months and now own 17.10% of the company.
• Shares opened at $17.75, trade in a 12-month range of $14.11–$31.66, have a market cap of about $1.90B and a negative PE of -38.6, with the 50-day moving average ($16.69) below the 200-day ($19.89).

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have been assigned an average rating of "Hold" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $26.6667.

Several analysts have issued reports on the stock. Needham & Company LLC reduced their price target on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Citizens Jmp reduced their price target on shares of Alkami Technology from $40.00 to $28.00 and set a "market outperform" rating on the stock in a report on Thursday, February 26th. Barclays lowered their price target on shares of Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th.

Alkami Technology Stock Down 0.4%

Shares of NASDAQ ALKT opened at $17.75 on Tuesday. Alkami Technology has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a market capitalization of $1.90 billion, a PE ratio of -38.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The firm's 50-day moving average is $16.69 and its two-hundred day moving average is $19.89.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 500,000 shares of the business's stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $18.33 per share, for a total transaction of $9,165,000.00. Following the acquisition, the director owned 15,379,451 shares of the company's stock, valued at approximately $281,905,336.83. The trade was a 3.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cassandra Hudson sold 6,869 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the transaction, the chief financial officer owned 286,757 shares of the company's stock, valued at $4,846,193.30. This trade represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 3,351,515 shares of company stock worth $59,829,413 and sold 13,739 shares worth $232,189. Insiders own 17.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after acquiring an additional 916 shares during the last quarter. First Horizon Corp purchased a new position in Alkami Technology during the third quarter worth approximately $30,000. Smartleaf Asset Management LLC raised its stake in Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock worth $34,000 after purchasing an additional 692 shares during the period. AlphaQuest LLC raised its stake in Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock worth $38,000 after purchasing an additional 544 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in Alkami Technology during the fourth quarter worth approximately $37,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.