Alkami Technology (NASDAQ:ALKT) Price Target Increased to $36.00 by Analysts at Lake Street Capital

Alkami Technology (NASDAQ:ALKT) had its target price hoisted by Lake Street Capital from $30.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

ALKT has been the subject of a number of other reports. Needham & Company LLC reaffirmed a buy rating and set a $32.00 price target on shares of Alkami Technology in a report on Tuesday, June 25th. Craig Hallum boosted their target price on Alkami Technology from $31.00 to $38.00 and gave the company a buy rating in a report on Thursday. Barclays boosted their target price on Alkami Technology from $31.00 to $35.00 and gave the company an equal weight rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Alkami Technology from $28.00 to $34.00 and gave the company a neutral rating in a report on Thursday. Finally, JMP Securities boosted their price target on Alkami Technology from $30.00 to $35.00 and gave the company a market outperform rating in a research report on Monday, July 22nd. Three equities research 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 currently has an average rating of Moderate Buy and a consensus price target of $32.50.

Alkami Technology Price Performance

NASDAQ:ALKT traded down $1.00 during midday trading on Thursday, reaching $32.86. The company had a trading volume of 57,257 shares, compared to its average volume of 409,797. The stock’s fifty day simple moving average is $29.22 and its 200-day simple moving average is $26.38. Alkami Technology has a 12-month low of $14.93 and a 12-month high of $36.00. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. Alkami Technology’s revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. As a group, sell-side analysts expect that Alkami Technology will post -0.38 EPS for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’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 transaction of $40,931,041.13. Following the sale, the director now owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The stock was 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 of the company’s stock, valued at approximately $7,049,555.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction 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 directly owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders have sold 1,848,472 shares of company stock valued at $49,241,550 in the last quarter. 38.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Alkami Technology during the fourth quarter worth about $43,000. Perkins Coie Trust Co acquired a new position in shares of Alkami Technology during the second quarter worth about $85,000. nVerses Capital LLC acquired a new position in shares of Alkami Technology during the second quarter worth about $88,000. Quest Partners LLC acquired a new position in shares of Alkami Technology during the fourth quarter worth about $113,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Alkami Technology during the first quarter worth about $140,000. 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.