Alkami Technology (NASDAQ:ALKT) PT Raised to $41.00

Alkami Technology (NASDAQ:ALKT - Free Report) had its price target increased by JMP Securities from $38.00 to $41.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also recently weighed in on ALKT. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Lake Street Capital lifted their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Barclays boosted their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Craig Hallum boosted their price target on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.22.

Alkami Technology Trading Down 0.3 %

ALKT stock traded down $0.13 during trading on Tuesday, reaching $38.64. 341,931 shares of the stock were exchanged, compared to its average volume of 450,628. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $32.73 and a 200-day moving average price of $29.89. Alkami Technology has a 1 year low of $17.32 and a 1 year high of $39.48. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -64.62 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. Alkami Technology's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, research analysts predict that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 55,046 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the transaction, the chief financial officer now directly owns 471,403 shares of the company's stock, valued at $14,703,059.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares of the company's stock, valued at approximately $484,850,877.33. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 55,046 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,648,416 shares of company stock valued at $113,920,758 in the last ninety days. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Alkami Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock worth $114,264,000 after purchasing an additional 88,390 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Alkami Technology by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company's stock worth $44,719,000 after purchasing an additional 181,194 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock worth $31,080,000 after acquiring an additional 392,483 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company's stock worth $30,002,000 after acquiring an additional 120,468 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company's stock worth $14,658,000 after acquiring an additional 284,977 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

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.