Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $33.89

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $33.89.

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC increased their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities boosted their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital raised their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

Alkami Technology Stock Down 1.3 %

ALKT stock opened at $31.64 on Friday. The company’s 50 day moving average is $31.91 and its 200 day moving average is $27.97. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -52.73 and a beta of 0.47. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology has a 1-year low of $16.49 and a 1-year high of $36.00.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The company had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same period in the previous year, the firm posted ($0.17) EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Sell-side analysts predict that Alkami Technology will post -0.36 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred 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 sale, the director now directly owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The stock was 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. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares in the company, valued at approximately $24,454,392.33. The disclosure for this sale can be found here. Insiders have sold 3,593,370 shares of company stock worth $112,203,873 over the last 90 days. 38.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALKT. Wasatch Advisors LP purchased a new stake in Alkami Technology in the first quarter worth about $37,178,000. Lisanti Capital Growth LLC bought a new stake in shares of Alkami Technology in the 1st quarter worth approximately $3,316,000. Trexquant Investment LP purchased a new stake in shares of Alkami Technology in the 4th quarter worth approximately $1,094,000. Quest Partners LLC purchased a new stake in shares of Alkami Technology in the 4th quarter worth approximately $113,000. Finally, Bank of New York Mellon Corp increased its position in Alkami Technology by 45.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock valued at $4,935,000 after buying an additional 54,453 shares in the last quarter. 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.