Alkami Technology (NASDAQ:ALKT - Free Report) had its target price decreased by Needham & Company LLC from $54.00 to $40.00 in a research note issued to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
ALKT has been the topic of a number of other reports. Barclays reduced their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $39.88.
Check Out Our Latest Report on Alkami Technology
Alkami Technology Price Performance
Shares of Alkami Technology stock traded up $0.92 on Thursday, reaching $26.99. 870,029 shares of the stock were exchanged, compared to its average volume of 827,112. 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 firm has a market cap of $2.78 billion, a PE ratio of -57.43 and a beta of 0.56. The firm's 50 day moving average is $26.00 and its 200-day moving average is $33.04. Alkami Technology has a one year low of $21.70 and a one year high of $42.29.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. As a group, analysts anticipate that Alkami Technology will post -0.34 EPS for the current fiscal year.
Insider Activity
In related news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.
Institutional Trading of Alkami Technology
A number of institutional investors have recently bought and sold shares of ALKT. Bosun Asset Management LLC lifted its stake in shares of Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after purchasing an additional 313 shares during the period. Perkins Coie Trust Co lifted its stake in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after buying an additional 500 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock worth $247,000 after buying an additional 615 shares in the last quarter. Amalgamated Bank grew its position in shares of Alkami Technology by 50.8% during the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after buying an additional 704 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Alkami Technology by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 31,892 shares of the company's stock valued at $837,000 after acquiring an additional 850 shares in the last quarter. Institutional investors own 54.97% of the company's stock.
About Alkami Technology
(
Get Free Report)
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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