Alkami Technology (NASDAQ:ALKT) Shares Gap Up – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT) gapped up prior to trading on Thursday . The stock had previously closed at $24.28, but opened at $24.89. Alkami Technology shares last traded at $24.83, with a volume of 149,388 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALKT. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Thursday. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Barclays cut their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Trading Up 3.3 %

The company has a market capitalization of $2.57 billion, a PE ratio of -53.22 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company’s fifty day moving average is $33.02 and its 200-day moving average is $34.75.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The company had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at $14,072,256.57. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,767 shares of company stock worth $7,981,934. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $4,384,000. Jefferies Financial Group Inc. acquired a new stake in Alkami Technology in the fourth quarter valued at $2,704,000. Mackenzie Financial Corp boosted its position in shares of Alkami Technology by 244.9% during the 4th quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock worth $972,000 after purchasing an additional 18,823 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Alkami Technology by 18.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock worth $3,036,000 after purchasing an additional 12,952 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Alkami Technology in the 4th quarter valued at about $96,000. 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.