Alkami Technology (NASDAQ:ALKT) Shares Gap Down - Time to Sell?

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $27.30, but opened at $24.71. Alkami Technology shares last traded at $24.76, with a volume of 399,711 shares changing hands.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Stephens raised 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. Barclays lowered their target price on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Price Performance

The company has a fifty day moving average of $32.54 and a 200-day moving average of $34.63. The firm has a market cap of $2.58 billion, a P/E ratio of -53.74 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

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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 the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company's stock, valued at $14,072,256.57. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,767 shares of company stock worth $7,981,934. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALKT. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology during the 4th quarter worth $34,000. Advisors Asset Management Inc. grew its stake in shares of Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after acquiring an additional 631 shares during the period. Quarry LP bought a new position in shares of Alkami Technology during the 4th quarter worth $61,000. Covestor Ltd grew its stake in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company's stock worth $85,000 after acquiring an additional 2,646 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Alkami Technology during the 4th quarter worth $96,000. Institutional investors own 54.97% of the company's stock.

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.