Craig Hallum Raises Alkami Technology (NASDAQ:ALKT) Price Target to $45.00

Alkami Technology (NASDAQ:ALKT) had its price objective increased by Craig Hallum from $38.00 to $45.00 in a research report sent to investors on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other research firms have also weighed in on ALKT. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Lake Street Capital raised their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays raised their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Alkami Technology Stock Performance

Shares of ALKT stock traded up $0.63 during mid-day trading on Thursday, reaching $37.24. The company’s stock had a trading volume of 37,065 shares, compared to its average volume of 452,428. The company’s 50 day simple moving average is $33.11 and its 200-day simple moving average is $30.10. Alkami Technology has a 12-month low of $18.03 and a 12-month 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.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.43%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same quarter last year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts predict that Alkami Technology will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the sale, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. 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 quarter. 38.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp bought a new position in Alkami Technology in the 3rd quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $40,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $85,000. Finally, nVerses Capital LLC acquired a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $88,000. 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.