Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have been given an average rating of "Moderate Buy" by the seven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $41.14.

A number of brokerages recently weighed in on ALKT. Barclays decreased their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares of the company's stock, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas A. Linebarger sold 50,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the sale, the insider now owns 191,668 shares of the company's stock, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,767 shares of company stock valued at $9,984,434. 38.00% of the stock is owned by company insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALKT. Essex Investment Management Co. LLC purchased a new position in Alkami Technology during the fourth quarter valued at approximately $34,000. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after buying an additional 631 shares during the period. Quarry LP purchased a new stake in Alkami Technology in the 4th quarter worth $61,000. Covestor Ltd raised its holdings in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after acquiring an additional 2,646 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Alkami Technology in the fourth quarter valued at about $96,000. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Up 1.7 %

Shares of Alkami Technology stock traded up $0.41 during midday trading on Friday, hitting $24.17. The company had a trading volume of 1,252,075 shares, compared to its average volume of 632,704. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company has a 50 day moving average of $33.27 and a 200 day moving average of $34.82. Alkami Technology has a 52-week low of $22.65 and a 52-week high of $42.29. The stock has a market capitalization of $2.47 billion, a P/E ratio of -51.56 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT - Get Free Report) 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 firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, equities analysts predict that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

About Alkami Technology

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.