Alkami Technology (NASDAQ:ALKT) Price Target Lowered to $30.00 at Barclays

Alkami Technology (NASDAQ:ALKT - Free Report) had its price target reduced by Barclays from $35.00 to $30.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alkami Technology presently has an average rating of "Moderate Buy" and an average target price of $40.38.

Alkami Technology Trading Down 0.6 %

Shares of NASDAQ:ALKT traded down $0.16 during trading on Monday, reaching $24.75. 883,127 shares of the company traded hands, compared to its average volume of 795,262. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -52.66 and a beta of 0.56. 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 business's fifty day moving average is $27.18 and its 200-day moving average is $33.52. Alkami Technology has a 52-week low of $21.70 and a 52-week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data 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 for 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%. As a group, analysts forecast that Alkami Technology will post -0.34 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were 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. This represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction that occurred on 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 of the company's stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. 38.00% of the stock is owned by company insiders.

Institutional Trading of Alkami Technology

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after purchasing an additional 843,129 shares during the period. Alliancebernstein L.P. grew its position in shares of Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after acquiring an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC bought a new position in Alkami Technology in the 4th quarter worth $78,878,000. Driehaus Capital Management LLC grew its holdings in Alkami Technology by 16.7% during the fourth quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock valued at $76,787,000 after purchasing an additional 299,728 shares during the period. Finally, Franklin Resources Inc. increased its position in Alkami Technology by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock worth $66,457,000 after buying an additional 6,970 shares in the last quarter. 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.