Alkami Technology (NASDAQ:ALKT) Reaches New 1-Year High – Still a Buy?

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $36.73 and last traded at $36.65, with a volume of 610851 shares traded. The stock had previously closed at $34.83.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several recent analyst reports. Needham & Company LLC upped their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities upped their price target on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays raised their price target on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.89.

Alkami Technology Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. The company has a market capitalization of $3.54 billion, a PE ratio of -60.57 and a beta of 0.46. The company has a 50 day moving average of $31.88 and a two-hundred day moving average of $29.24.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share 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 firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts predict that Alkami Technology, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alex Shootman sold 37,758 shares of the firm’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 transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 3,648,416 shares of company stock valued at $113,920,758. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC raised its holdings in Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after buying an additional 500 shares during the last quarter. Park Place Capital Corp bought a new stake in shares of Alkami Technology during the third 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 worth $38,000 after acquiring an additional 1,014 shares during the last quarter. Swiss National Bank lifted its position in Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after acquiring an additional 1,100 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

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.