Alkami Technology, Inc. (NASDAQ:ALKT) Receives $27.56 Consensus Target Price from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $27.56.

ALKT has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Alkami Technology in a research note on Tuesday, June 25th. Finally, Craig Hallum lifted their target price on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $30.25 on Tuesday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $26.91 and its two-hundred day moving average price is $25.25. Alkami Technology has a 52 week low of $14.93 and a 52 week high of $30.90. The stock has a market cap of $2.95 billion, a PE ratio of -50.42 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same period in the previous year, the business earned ($0.16) earnings per share. Alkami Technology’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alkami Technology will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $28.80, for a total value of $2,880,000.00. Following the transaction, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alkami Technology news, 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 value of $2,880,000.00. Following the completion of the transaction, the chief financial officer now directly owns 505,877 shares in the company, valued at $14,569,257.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the sale, the director now directly owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,848,472 shares of company stock valued at $49,241,550. 25.90% of the stock is currently owned by company insiders.

Institutional Trading of Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors boosted its position in shares of Alkami Technology by 15.6% during the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after purchasing an additional 632,061 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alkami Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after acquiring an additional 88,390 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of Alkami Technology during the first quarter valued at approximately $37,178,000. FMR LLC increased its position in Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after buying an additional 21,086 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Alkami Technology by 3,727.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock valued at $20,719,000 after purchasing an additional 832,059 shares in the last quarter. 54.97% of the stock is currently owned by 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.