Alkami Technology (NASDAQ:ALKT) PT Raised to $31.00 at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its price target boosted by Craig Hallum from $30.00 to $31.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. William Blair reaffirmed an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. The Goldman Sachs Group cut Alkami Technology from a buy rating to a neutral rating and lifted their price objective for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Barclays increased their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. TheStreet raised Alkami Technology from a d rating to a c- rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC upped their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a buy rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $26.90.

Alkami Technology Stock Performance

ALKT traded up $0.64 during trading on Thursday, hitting $27.33. The stock had a trading volume of 622,085 shares, compared to its average volume of 321,106. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The company has a 50 day moving average price of $24.12 and a 200-day moving average price of $23.35. Alkami Technology has a one year low of $11.23 and a one year high of $27.87. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -45.55 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. As a group, research analysts predict that Alkami Technology will post -0.41 EPS for the current year.

Insider Activity

In related news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Douglas A. Linebarger sold 33,593 shares of Alkami Technology stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,734 shares of company stock worth $2,658,864. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently added to or reduced their stakes in the business. PEAK6 Investments LLC lifted its holdings in shares of Alkami Technology by 217.3% during the third quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock worth $2,069,000 after purchasing an additional 77,750 shares during the period. SG Americas Securities LLC lifted its holdings in Alkami Technology by 1,283.9% during the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock worth $2,030,000 after buying an additional 77,677 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Alkami Technology in the 3rd quarter valued at about $214,000. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock valued at $78,252,000 after buying an additional 31,069 shares during the period. Finally, Bamco Inc. NY increased its stake in shares of Alkami Technology by 0.8% in the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock valued at $14,214,000 after buying an additional 6,064 shares during the period. 54.97% of the stock is owned by 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.