Alkami Technology (NASDAQ:ALKT) Hits New 52-Week High at $28.25

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $28.25 and last traded at $28.25, with a volume of 150 shares traded. The stock had previously closed at $27.33.

Wall Street Analyst Weigh In

ALKT has been the subject of several research reports. The Goldman Sachs Group downgraded shares of Alkami Technology from a "buy" rating to a "neutral" rating and upped their price target for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. TheStreet raised Alkami Technology from a "d" rating to a "c-" rating in a report on Thursday, February 29th. Needham & Company LLC upped their price target on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday. Craig Hallum upped their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JMP Securities restated a "market outperform" rating and issued a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.90.

Alkami Technology Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The company has a 50 day moving average price of $24.15 and a 200 day moving average price of $23.49. The company has a market capitalization of $2.63 billion, a PE ratio of -45.03 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analysts' expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. Equities analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now directly owns 508,501 shares of the company's stock, valued at $12,158,258.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now directly owns 508,501 shares of the company's stock, valued at $12,158,258.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Bohanon sold 29,052 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold a total of 112,734 shares of company stock valued at $2,658,864 in the last three months. Company insiders own 38.00% of the company's stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently added to or reduced their stakes in ALKT. Beaird Harris Wealth Management LLC grew its position in shares of Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company's stock valued at $38,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Alkami Technology in the 3rd quarter worth $39,000. NBC Securities Inc. bought a new position in Alkami Technology during the 4th quarter worth about $43,000. SG Americas Securities LLC bought a new stake in shares of Alkami Technology in the third quarter valued at about $110,000. Finally, Quest Partners LLC acquired a new stake in Alkami Technology in the 4th quarter valued at approximately $113,000. 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.