Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $43.00

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.00.

Several brokerages have recently issued reports on ALKT. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities upped their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th.

Insider Activity

In other news, insider Stephen Bohanon sold 15,491 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $594,389.67. Following the completion of the sale, the insider now owns 358,204 shares in the company, valued at approximately $13,744,287.48. This represents a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,536,639 shares of company stock worth $139,955,172. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC raised its stake in Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Trust Point Inc. acquired a new stake in Alkami Technology during the 3rd quarter valued at $1,029,000. Blue Trust Inc. raised its stake in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the period. Taylor Frigon Capital Management LLC acquired a new stake in Alkami Technology during the 3rd quarter valued at $2,579,000. Finally, US Bancorp DE acquired a new stake in Alkami Technology during the 3rd quarter valued at $259,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $33.37 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $36.25 and a 200-day simple moving average of $35.11. The company has a market cap of $3.35 billion, a PE ratio of -71.00 and a beta of 0.47. Alkami Technology has a 12-month low of $22.65 and a 12-month high of $42.29.

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.