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

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $40.38.

ALKT has been the subject of a number of research reports. Barclays reduced their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group dropped their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $26.87 on Monday. Alkami Technology has a 1 year low of $21.70 and a 1 year high of $42.29. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -57.17 and a beta of 0.56. The company has a fifty day moving average price of $26.46 and a 200-day moving average price of $33.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

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

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 17,409 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 $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value 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. 18.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology in the fourth quarter valued at about $34,000. Perkins Coie Trust Co grew its stake in shares of Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Versant Capital Management Inc purchased a new position in Alkami Technology during the 1st quarter valued at about $36,000. Amalgamated Bank raised its position in Alkami Technology by 50.8% during the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after purchasing an additional 704 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in Alkami Technology by 114,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock worth $60,000 after buying an additional 2,291 shares during the period. 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.

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