Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.89.

A number of research firms have recently issued reports on ALKT. JMP Securities boosted their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Barclays boosted their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Lake Street Capital boosted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Craig Hallum boosted their price target on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Alkami Technology Stock Performance

Shares of ALKT opened at $30.17 on Friday. The firm’s 50 day moving average is $31.83 and its 200-day moving average is $27.78. The stock has a market capitalization of $2.99 billion, a P/E ratio of -50.28 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. Alkami Technology has a 12-month low of $16.49 and a 12-month high of $36.00.

Alkami Technology (NASDAQ:ALKT) last announced 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 17.47% and a negative return on equity of 13.43%. The company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. During the same period last year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that Alkami Technology will post -0.36 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alkami Technology news, insider Stephen Bohanon sold 35,893 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the sale, the insider now directly owns 403,786 shares of the company’s stock, valued at $13,567,209.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,693,370 shares of company stock valued at $114,775,873. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the second quarter worth $40,000. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the fourth quarter worth $43,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology in the second quarter worth $85,000. nVerses Capital LLC acquired a new stake in shares of Alkami Technology in the second quarter worth $88,000. Finally, Quest Partners LLC acquired a new stake in shares of Alkami Technology in the fourth quarter worth $113,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.