Alkami Technology (NASDAQ:ALKT) Price Target Raised to $39.00

Alkami Technology (NASDAQ:ALKT - Get Free Report) had its price target lifted by equities research analysts at The Goldman Sachs Group from $34.00 to $39.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 3.72% from the stock's current price.

ALKT has been the topic of several other reports. JMP Securities boosted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Barclays boosted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday. Needham & Company LLC raised their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday. Lake Street Capital lifted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Craig Hallum increased their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.44.

Alkami Technology Stock Up 2.7 %

Shares of Alkami Technology stock traded up $0.99 during trading on Friday, reaching $37.60. The company had a trading volume of 850,466 shares, compared to its average volume of 456,268. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. Alkami Technology has a fifty-two week low of $18.03 and a fifty-two week high of $41.36. The firm's fifty day moving average is $33.18 and its 200-day moving average is $30.19. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The business's revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. On average, analysts anticipate that Alkami Technology will post -0.36 EPS for the current year.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares of the company's stock, valued at $484,850,877.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Bohanon sold 15,605 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares of the company's stock, valued at $12,262,637.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction that occurred on 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 in the company, valued at $484,850,877.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently made changes to their positions in the company. Park Place Capital Corp bought a new position in Alkami Technology in the 3rd quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Alkami Technology during the 2nd quarter worth about $40,000. Perkins Coie Trust Co bought a new stake in Alkami Technology during the 2nd quarter worth about $85,000. Finally, nVerses Capital LLC bought a new stake in Alkami Technology during the 2nd quarter worth about $88,000. 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.