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

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $41.00.

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th.

Alkami Technology Trading Down 2.8 %

NASDAQ:ALKT traded down $0.65 during trading hours on Thursday, reaching $22.84. 2,813,420 shares of the stock were exchanged, compared to its average volume of 744,006. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -48.60 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $29.61 and a two-hundred day moving average of $34.10. Alkami Technology has a twelve month low of $21.06 and a twelve month high of $42.29.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to analyst estimates 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 EPS for the current year.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, 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. In the last quarter, insiders sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $34,000. Versant Capital Management Inc bought a new stake in Alkami Technology in the first quarter valued at $36,000. Quarry LP acquired a new position in Alkami Technology during the 4th quarter valued at about $61,000. Neo Ivy Capital Management bought a new position in Alkami Technology in the 4th quarter worth approximately $96,000. Finally, Blue Trust Inc. grew its stake in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after purchasing an additional 1,974 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.