Alkami Technology (NASDAQ:ALKT) Given New $32.00 Price Target at The Goldman Sachs Group

Alkami Technology (NASDAQ:ALKT - Get Free Report) had its target price reduced by equities researchers at The Goldman Sachs Group from $39.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 14.41% from the company's current price.

Several other equities research analysts have also weighed in on the company. Barclays reduced their price objective on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target on Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.14.

Alkami Technology Price Performance

Alkami Technology stock traded down $1.00 during midday trading on Monday, hitting $27.97. The company's stock had a trading volume of 793,755 shares, compared to its average volume of 585,634. Alkami Technology has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.81 billion, a PE ratio of -59.51 and a beta of 0.47. The stock's 50-day moving average price is $34.24 and its 200-day moving average price is $34.98.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Analysts anticipate that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following 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 at this link. Also, CFO W Bryan Hill sold 17,409 shares of the 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 $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,767 shares of company stock worth $9,984,434 over the last quarter. Corporate insiders own 38.00% of the company's stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. Bosun Asset Management LLC grew its holdings in shares of Alkami Technology by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after purchasing an additional 615 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Alkami Technology in the fourth quarter valued at about $34,000. Finally, Summit Investment Advisors Inc. increased its position in Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after purchasing an additional 1,238 shares during the last quarter. Hedge funds and other 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.