Alkami Technology (NASDAQ:ALKT) Now Covered by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology (NASDAQ:ALKT - Get Free Report) in a report released on Wednesday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $40.00 price target on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 49.09% from the company's current price.

Several other equities research analysts also recently weighed in on ALKT. Barclays decreased their price target on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Needham & Company LLC reduced their target price 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 issued a $46.00 target price on shares of Alkami Technology in a report 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. Finally, Lake Street Capital reduced their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Alkami Technology Stock Down 1.3%

ALKT opened at $26.83 on Wednesday. Alkami Technology has a 52 week low of $21.70 and a 52 week high of $42.29. The business has a 50 day moving average price of $27.89 and a two-hundred day moving average price of $31.08. 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 $2.76 billion, a PE ratio of -70.61 and a beta of 0.58.

Insider Activity at Alkami Technology

In other news, Director Joseph P. Payne bought 8,200 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the transaction, the director now owns 21,128 shares in the company, valued at $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 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 $203,341.20. Following the completion of the transaction, the insider now owns 238,172 shares of the company's stock, valued at approximately $6,754,557.92. This represents 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

Several hedge funds have recently added to or reduced their stakes in ALKT. Vanguard Group Inc. lifted its holdings in shares of Alkami Technology by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock valued at $208,676,000 after purchasing an additional 501,722 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Alkami Technology by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,865,423 shares of the company's stock worth $75,217,000 after purchasing an additional 158,094 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Alkami Technology by 64.0% in the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock valued at $67,805,000 after buying an additional 1,008,025 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Alkami Technology during the 4th quarter valued at $78,878,000. Finally, Driehaus Capital Management LLC increased its position 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 buying an additional 299,728 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.