Alkami Technology (NASDAQ:ALKT) Price Target Increased to $36.00 by Analysts at Lake Street Capital

Alkami Technology (NASDAQ:ALKT) had its price objective lifted by equities researchers at Lake Street Capital from $30.00 to $36.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective indicates a potential upside of 7.82% from the stock’s current price.

ALKT has been the topic of a number of other reports. Craig Hallum lifted their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Alkami Technology in a report on Tuesday, June 25th. JMP Securities raised their price objective on Alkami Technology from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. The Goldman Sachs Group boosted their target price on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Barclays upped their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.10.

Alkami Technology Price Performance

Shares of ALKT traded up $0.66 during trading hours on Thursday, hitting $33.39. 849,321 shares of the company were exchanged, compared to its average volume of 408,097. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a fifty-two week low of $14.93 and a fifty-two week high of $36.00. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -55.65 and a beta of 0.47. The firm’s fifty day moving average is $29.08 and its 200 day moving average is $26.33.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, equities analysts anticipate that Alkami Technology will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the transaction, the chief financial officer now directly owns 505,877 shares in the company, valued at $14,569,257.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Bohanon sold 22,171 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $26.88, for a total transaction of $595,956.48. Following the sale, the insider now owns 407,940 shares in the company, valued at approximately $10,965,427.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $28.80, for a total value of $2,880,000.00. Following the completion of the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,848,472 shares of company stock worth $49,241,550. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Alkami Technology during the second quarter worth $88,000. Bank of New York Mellon Corp grew its stake in shares of Alkami Technology by 45.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock valued at $4,935,000 after buying an additional 54,453 shares during the period. Perkins Coie Trust Co acquired a new position in Alkami Technology during the 2nd quarter worth approximately $85,000. SG Americas Securities LLC acquired a new position in Alkami Technology during the 2nd quarter worth approximately $2,668,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology in the first quarter worth approximately $5,569,000. 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.