Alkami Technology (NASDAQ:ALKT) Given Buy Rating at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $32.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.78% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Craig Hallum raised their price objective on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, William Blair reissued an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and an average price target of $26.90.

Alkami Technology Trading Up 1.7 %

Shares of ALKT stock opened at $26.94 on Tuesday. Alkami Technology has a fifty-two week low of $14.93 and a fifty-two week high of $29.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $25.00. The company has a market cap of $2.63 billion, a P/E ratio of -44.90 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. Research analysts forecast that Alkami Technology will post -0.38 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $25.72, for a total value of $2,572,000.00. Following the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $12,585,824.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares in the company, valued at $12,585,824.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,848,472 shares of company stock worth $49,241,550. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology in the 1st quarter valued at approximately $5,569,000. Silvercrest Asset Management Group LLC raised its stake in shares of Alkami Technology by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock worth $8,114,000 after purchasing an additional 14,316 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Alkami Technology during the first quarter valued at $1,840,000. Price T Rowe Associates Inc. MD boosted its position in shares of Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after buying an additional 1,460 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Alkami Technology in the 1st quarter worth about $237,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.