The Goldman Sachs Group Cuts Alkami Technology (NASDAQ:ALKT) Price Target to $32.00

Alkami Technology (NASDAQ:ALKT) had its price objective cut by The Goldman Sachs Group from $39.00 to $32.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Barclays cut their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.14.

Alkami Technology Stock Up 0.5 %

Shares of Alkami Technology stock opened at $28.97 on Monday. 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 firm has a market cap of $2.91 billion, a P/E ratio of -61.64 and a beta of 0.47. Alkami Technology has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The business has a 50-day moving average price of $34.24 and a 200 day moving average price of $34.98.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, sell-side analysts forecast that Alkami Technology will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,767 shares of company stock valued at $9,984,434. 38.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently bought and sold shares of ALKT. JPMorgan Chase & Co. lifted its stake in shares of Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after buying an additional 313,478 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Alkami Technology during the third quarter worth approximately $1,860,000. FMR LLC increased its holdings in shares of Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after purchasing an additional 141,319 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Alkami Technology in the third quarter valued at approximately $1,115,000. 54.97% of the stock is currently owned by institutional investors.

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.