Alkami Technology (NASDAQ:ALKT) Sets New 52-Week High at $30.34

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.34 and last traded at $30.34, with a volume of 88854 shares. The stock had previously closed at $29.06.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Alkami Technology in a research note on Tuesday, June 25th. Finally, Craig Hallum increased their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Alkami Technology Stock Performance

The stock has a 50 day moving average price of $26.78 and a two-hundred day moving average price of $25.22. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -50.42 and a beta of 0.47. 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 (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) earnings per share. On average, analysts predict that Alkami Technology, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $25.72, for a total value of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares in the company, valued at $12,585,824.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the transaction, the insider now owns 262,749 shares in the company, valued at $7,049,555.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $25.72, for a total value of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares in the company, valued at approximately $12,585,824.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,848,472 shares of company stock worth $49,241,550 over the last 90 days. Insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in Alkami Technology during the fourth quarter worth about $43,000. Beaird Harris Wealth Management LLC boosted its holdings in Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Quest Partners LLC bought a new position in shares of Alkami Technology during the 4th quarter valued at about $113,000. Acadian Asset Management LLC bought a new position in shares of Alkami Technology during the 1st quarter valued at about $140,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Alkami Technology by 253.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after purchasing an additional 5,445 shares in 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.