The Goldman Sachs Group Increases Alkami Technology (NASDAQ:ALKT) Price Target to $34.00

Alkami Technology (NASDAQ:ALKT) had its target price hoisted by The Goldman Sachs Group from $28.00 to $34.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

ALKT has been the topic of several other research reports. JMP Securities raised their price objective on Alkami Technology from $30.00 to $35.00 and gave the stock a market outperform rating in a report on Monday, July 22nd. Barclays raised their price target on Alkami Technology from $31.00 to $35.00 and gave the stock an equal weight rating in a report 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. Finally, Craig Hallum raised their price target on Alkami Technology from $30.00 to $31.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $32.50.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $30.36 on Thursday. The firm has a market capitalization of $2.96 billion, a PE ratio of -53.73 and a beta of 0.47. The business’s fifty day moving average price is $29.32 and its 200 day moving average price is $26.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. Alkami Technology has a 12 month low of $14.93 and a 12 month high of $36.00.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. Alkami Technology’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Alkami Technology will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In related news, insider Stephen Bohanon sold 12,450 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.66, for a total value of $356,817.00. Following the completion of the sale, the insider now owns 449,552 shares in the company, valued at $12,884,160.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Stephen Bohanon sold 12,450 shares of Alkami Technology stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.66, for a total transaction of $356,817.00. Following the completion of the sale, the insider now directly owns 449,552 shares in the company, valued at approximately $12,884,160.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Insiders sold a total of 1,777,442 shares of company stock worth $47,335,815 over the last 90 days. Company insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Swiss National Bank lifted its holdings in shares of Alkami Technology by 1.3% during the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after acquiring an additional 1,100 shares in the last quarter. NBC Securities Inc. grew its position in shares of Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after buying an additional 1,102 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after purchasing an additional 1,460 shares during the last quarter. Perkins Coie Trust Co bought a new position in Alkami Technology in the 2nd quarter worth about $85,000. Finally, nVerses Capital LLC bought a new position in Alkami Technology in the 2nd quarter worth about $88,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

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.