Alkami Technology (NASDAQ:ALKT) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of Alkami Technology (NASDAQ:ALKT) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $40.00 price target on the stock.

A number of other analysts have also commented on the company. Barclays decreased their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Up 0.0 %

Alkami Technology stock opened at $25.26 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.74 and a beta of 0.49. Alkami Technology has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The stock’s fifty day moving average is $32.54 and its two-hundred day moving average is $34.63.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Analysts predict that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 17,409 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,767 shares of company stock valued at $7,981,934. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology in the 4th quarter worth about $34,000. Advisors Asset Management Inc. raised its holdings in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Quarry LP purchased a new position in shares of Alkami Technology in the 4th quarter worth about $61,000. Neo Ivy Capital Management purchased a new position in shares of Alkami Technology in the 4th quarter worth about $96,000. Finally, Covestor Ltd raised its holdings in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares during the period. 54.97% of the stock is currently 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.