Alkami Technology (NASDAQ:ALKT) Price Target Increased to $35.00 by Analysts at Barclays

Alkami Technology (NASDAQ:ALKT) had its target price boosted by equities research analysts at Barclays from $31.00 to $35.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 2.52% from the stock’s current price.

A number of other analysts have also recently issued reports on ALKT. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Alkami Technology in a research note on Tuesday, June 25th. JMP Securities increased their price objective on shares of Alkami Technology from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Monday, July 22nd. Finally, Craig Hallum increased their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Alkami Technology Stock Performance

ALKT stock traded up $1.41 during midday trading on Thursday, reaching $34.14. 482,733 shares of the company’s stock traded hands, compared to its average volume of 405,604. Alkami Technology has a 52-week low of $14.93 and a 52-week high of $36.00. The stock has a market cap of $3.33 billion, a P/E ratio of -56.90 and a beta of 0.47. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average is $29.08 and its 200 day moving average is $26.33.

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

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 71,030 shares of Alkami Technology stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the transaction, the insider now directly owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO W Bryan Hill sold 100,000 shares of the company’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 directly owns 489,340 shares in the company, valued at approximately $12,585,824.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the transaction, the insider now owns 262,749 shares in the company, valued at $7,049,555.67. The disclosure for this sale can be found here. Insiders sold 1,848,472 shares of company stock worth $49,241,550 over the last 90 days. 38.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Alkami Technology in the 4th quarter worth about $43,000. Perkins Coie Trust Co bought a new position in Alkami Technology in the 2nd quarter worth about $85,000. nVerses Capital LLC bought a new position in Alkami Technology in the 2nd quarter worth about $88,000. Quest Partners LLC bought a new position in Alkami Technology in the 4th quarter worth about $113,000. Finally, Acadian Asset Management LLC bought a new position in Alkami Technology in the 1st quarter worth about $140,000. 54.97% of the stock is currently owned by institutional investors.

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.