JMP Securities Boosts Alkami Technology (NASDAQ:ALKT) Price Target to $41.00

Alkami Technology (NASDAQ:ALKT) had its price objective lifted by investment analysts at JMP Securities from $38.00 to $41.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 7.39% from the company’s previous close.

ALKT has been the topic of a number of other research reports. Barclays boosted their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Craig Hallum upped their target price 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. The Goldman Sachs Group upped their target price on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Lake Street Capital lifted their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.22.

Alkami Technology Trading Down 1.2 %

Shares of Alkami Technology stock opened at $38.18 on Tuesday. Alkami Technology has a 1 year low of $17.32 and a 1 year high of $39.48. The company has a market capitalization of $3.78 billion, a P/E ratio of -70.70 and a beta of 0.46. The company’s fifty day moving average is $33.01 and its two-hundred day moving average is $30.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. Analysts forecast that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alex Shootman sold 37,758 shares of the firm’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 transaction of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 over the last ninety days. 38.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALKT. nVerses Capital LLC grew its holdings in shares of Alkami Technology by 16.1% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after acquiring an additional 500 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Alkami Technology by 12.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares during the period. Park Place Capital Corp purchased a new position in Alkami Technology in the third quarter valued at about $28,000. Blue Trust Inc. grew its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Alkami Technology by 1.3% during the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after purchasing an additional 1,100 shares in the last quarter. 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.