The Goldman Sachs Group Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $34.00 to $39.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 3.04% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JMP Securities boosted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Craig Hallum boosted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays boosted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday. Lake Street Capital boosted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Trading Up 3.4 %

NASDAQ:ALKT traded up $1.24 during mid-day trading on Friday, hitting $37.85. 394,782 shares of the company’s stock were exchanged, compared to its average volume of 454,115. The company has a 50 day simple moving average of $33.11 and a 200-day simple moving average of $30.10. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology has a fifty-two week low of $18.03 and a fifty-two week high of $41.36. The firm has a market capitalization of $3.75 billion, a P/E ratio of -80.81 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.43%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same period last year, the company earned ($0.17) EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. As a group, research analysts expect that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the sale, the director now owns 15,555,049 shares in the company, valued at $484,850,877.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the completion of the sale, the insider now owns 388,181 shares in the company, valued at approximately $12,262,637.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the sale, the director now owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. This trade 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 worth $113,920,758 in the last quarter. 38.00% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC grew its stake in shares of Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after acquiring an additional 392,483 shares in the last quarter. Millennium Management LLC grew its stake in shares of Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after acquiring an additional 284,977 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Alkami Technology by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after acquiring an additional 267,336 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alkami Technology in the 1st quarter worth $5,569,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Alkami Technology by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the last quarter. 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.