Alkami Technology (NASDAQ:ALKT) Price Target Increased to $31.00 by Analysts at Barclays

Alkami Technology (NASDAQ:ALKT) had its price target boosted by research analysts at Barclays from $28.00 to $31.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 0.81% from the company’s previous close.

ALKT has been the topic of a number of other reports. Craig Hallum raised their target price on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Alkami Technology in a research report on Tuesday, June 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $30.75 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -51.25 and a beta of 0.47. Alkami Technology has a 1 year low of $14.93 and a 1 year high of $31.31. The firm’s 50-day moving average is $27.53 and its 200 day moving average is $25.52.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $75.57 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Sell-side analysts anticipate that Alkami Technology will post -0.38 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, insider Stephen Bohanon sold 12,450 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.66, for a total value of $356,817.00. Following the transaction, the insider now directly owns 449,552 shares in the company, valued at approximately $12,884,160.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Stephen Bohanon sold 12,450 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.66, for a total value of $356,817.00. Following the completion of the sale, the insider now owns 449,552 shares in the company, valued at approximately $12,884,160.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The disclosure for this sale can be found here. Insiders sold 1,848,472 shares of company stock worth $49,241,550 in the last 90 days. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in shares of Alkami Technology in the 4th quarter valued at about $43,000. Quest Partners LLC acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $113,000. Acadian Asset Management LLC acquired a new position in shares of Alkami Technology during the first quarter worth $140,000. 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 during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Alkami Technology in the 4th quarter worth $232,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.