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

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.88.

A number of equities analysts recently commented on the company. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a report on Thursday, March 13th. The Goldman Sachs Group decreased their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. JMP Securities reissued a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Lake Street Capital decreased their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, 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.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $27.19 on Tuesday. Alkami Technology has a one year low of $21.70 and a one year high of $42.29. The stock's fifty day moving average is $27.85 and its 200 day moving average is $31.11. The stock has a market cap of $2.80 billion, a P/E ratio of -57.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $577,551.40. Following the completion of the transaction, the chief financial officer now owns 430,255 shares in the company, valued at $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the sale, the insider now owns 238,172 shares of the company's stock, valued at $6,754,557.92. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,690 shares of company stock worth $785,288 over the last 90 days. Company insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Alkami Technology by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after buying an additional 501,722 shares in the last quarter. Alliancebernstein L.P. raised its stake in Alkami Technology by 5.8% in the first quarter. Alliancebernstein L.P. now owns 2,865,423 shares of the company's stock worth $75,217,000 after buying an additional 158,094 shares in the last quarter. Champlain Investment Partners LLC raised its stake in Alkami Technology by 64.0% in the first quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock worth $67,805,000 after buying an additional 1,008,025 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Alkami Technology in the fourth quarter worth approximately $78,878,000. Finally, Driehaus Capital Management LLC raised its stake in Alkami Technology by 16.7% in the fourth quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after buying an additional 299,728 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

About Alkami Technology

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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