Alkami Technology, Inc. (NASDAQ:ALKT) Receives $39.88 Consensus PT from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $39.25.

Several analysts have weighed in on the stock. JMP Securities reiterated a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a research note on Thursday, May 1st. Stephens raised shares of 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. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Lake Street Capital decreased their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC lowered their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 7,170 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the transaction, the insider now directly owns 238,172 shares of the company's stock, valued at approximately $6,754,557.92. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph P. Payne acquired 8,200 shares of Alkami Technology stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, with a total value of $249,772.00. Following the acquisition, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 27,690 shares of company stock worth $785,288. Insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently bought and sold shares of ALKT. Bosun Asset Management LLC increased its stake in shares of Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares during the period. Perkins Coie Trust Co boosted its stake in Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Covestor Ltd boosted its stake in Alkami Technology by 18.8% during the 1st quarter. Covestor Ltd now owns 3,252 shares of the company's stock valued at $85,000 after purchasing an additional 514 shares in the last quarter. Amundi increased its position in shares of Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company's stock valued at $731,000 after purchasing an additional 548 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock worth $64,000 after buying an additional 594 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of ALKT traded down $0.13 during mid-day trading on Tuesday, hitting $28.21. The stock had a trading volume of 610,420 shares, compared to its average volume of 878,771. Alkami Technology has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.23. The company has a market cap of $2.91 billion, a PE ratio of -74.05 and a beta of 0.58. The company's fifty day simple moving average is $28.04 and its two-hundred day simple moving average is $30.99.

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.