Alkami Technology (NASDAQ:ALKT) PT Raised to $41.00 at JMP Securities

Alkami Technology (NASDAQ:ALKT) had its price objective lifted by investment analysts at JMP Securities from $38.00 to $41.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 5.75% from the company’s current price.

A number of other analysts have also issued reports on the stock. Needham & Company LLC boosted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Lake Street Capital raised their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Craig Hallum boosted their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.22.

Alkami Technology Price Performance

Alkami Technology stock opened at $38.77 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -64.62 and a beta of 0.46. The company’s 50 day simple moving average is $32.73 and its 200-day simple moving average is $29.89. Alkami Technology has a 1 year low of $17.32 and a 1 year high of $39.48.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO W Bryan Hill sold 55,046 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the transaction, the chief financial officer now owns 471,403 shares in the company, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the sale, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,648,416 shares of company stock valued at $113,920,758 over the last three months. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Alkami Technology by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in Alkami Technology in the 1st quarter valued at about $307,000. Lisanti Capital Growth LLC purchased a new stake in Alkami Technology during the 1st quarter valued at approximately $3,316,000. Swiss National Bank lifted its position in Alkami Technology by 1.3% during the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after acquiring an additional 1,100 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Alkami Technology by 51.1% in the 1st quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock valued at $397,000 after purchasing an additional 5,460 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.