Barclays Issues Pessimistic Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT - Get Free Report) had its price target reduced by Barclays from $41.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 25.13% from the stock's current price.

Separately, JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.14.

Alkami Technology Stock Down 3.5 %

Shares of Alkami Technology stock traded down $1.00 during trading on Monday, reaching $27.97. The stock had a trading volume of 793,755 shares, compared to its average volume of 585,634. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -59.51 and a beta of 0.47. The stock has a fifty day moving average price of $34.24 and a two-hundred day moving average price of $34.98. Alkami Technology has a 52 week low of $22.65 and a 52 week high of $42.29.

Remove Ads

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

Insider Activity

In related news, insider Douglas A. Linebarger sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the transaction, the insider now directly owns 191,668 shares of the company's stock, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALKT. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology in the fourth quarter valued at about $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 valued at $37,000 after purchasing an additional 631 shares during the period. Quarry LP acquired a new position in shares of Alkami Technology during the 4th quarter worth approximately $61,000. Covestor Ltd increased its holdings in shares of Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company's stock worth $85,000 after purchasing an additional 2,646 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $96,000. 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.