Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.88.

A number of equities research analysts have issued reports on ALKT shares. The Goldman Sachs Group lowered 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. Barclays decreased their price objective 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. Needham & Company LLC cut their target price 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. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday. Finally, Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a research report on Thursday, March 13th.

Alkami Technology Trading Up 1.4 %

NASDAQ ALKT traded up $0.37 during mid-day trading on Monday, reaching $26.44. 78,405 shares of the stock were exchanged, compared to its average volume of 824,037. The business's fifty day simple moving average is $26.06 and its 200 day simple moving average is $33.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock has a market capitalization of $2.72 billion, a PE ratio of -56.23 and a beta of 0.56. Alkami Technology has a 1-year low of $21.70 and a 1-year high of $42.29.

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

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of the firm'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 transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently made changes to their positions in ALKT. Vanguard Group Inc. boosted its holdings in Alkami Technology by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after purchasing an additional 843,129 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after buying an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Alkami Technology during the 4th quarter valued at about $78,878,000. Driehaus Capital Management LLC raised its stake in Alkami Technology by 16.7% during the fourth quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after acquiring an additional 299,728 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Alkami Technology by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after acquiring an additional 6,970 shares during the period. 54.97% of the stock is currently owned by 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.