Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $37.44

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $37.44.

Several research firms have issued reports on ALKT. Barclays boosted their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday. Craig Hallum increased their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday. Lake Street Capital lifted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. JMP Securities increased their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group upped their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday.

Alkami Technology Trading Down 2.8 %

ALKT stock traded down $1.07 during midday trading on Monday, reaching $36.53. The company's stock had a trading volume of 895,733 shares, compared to its average volume of 458,456. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -77.72 and a beta of 0.43. Alkami Technology has a 1 year low of $20.37 and a 1 year high of $41.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a fifty day simple moving average of $33.24 and a two-hundred day simple moving average of $30.37.

Insider Buying and Selling

In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of Alkami Technology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the transaction, the insider now directly owns 8,419,784 shares of the company's stock, valued at approximately $262,444,667.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brian R. Smith sold 83,333 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares of the company's stock, valued at $24,454,392.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder George B. Kaiser sold 1,666,666 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the sale, the insider now directly owns 8,419,784 shares in the company, valued at approximately $262,444,667.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 in the last 90 days. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Alkami Technology by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company's stock valued at $110,633,000 after purchasing an additional 267,336 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Alkami Technology during the 1st quarter worth approximately $3,316,000. Swiss National Bank boosted its holdings in shares of Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company's stock valued at $2,081,000 after acquiring an additional 1,100 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Alkami Technology by 51.1% during the 1st quarter. Blair William & Co. IL now owns 16,155 shares of the company's stock valued at $397,000 after buying an additional 5,460 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Alkami Technology in the 1st quarter valued at about $140,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.