Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $19.89.

Several research analysts recently weighed in on the company. The Goldman Sachs Group began coverage on Alkami Technology in a research report on Wednesday, July 12th. They set a “buy” rating and a $21.00 price target for the company. Needham & Company LLC boosted their target price on Alkami Technology from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Barclays raised their price objective on shares of Alkami Technology from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Citigroup lifted their target price on Alkami Technology from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, KeyCorp raised their price target on Alkami Technology from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th.

Insiders Place Their Bets

In related news, insider Stephen Bohanon sold 24,514 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $15.35, for a total value of $376,289.90. Following the sale, the insider now directly owns 489,524 shares of the company’s stock, valued at $7,514,193.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 38.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently added to or reduced their stakes in ALKT. Ensign Peak Advisors Inc boosted its stake in Alkami Technology by 84.1% during the 3rd quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company’s stock valued at $43,000 after purchasing an additional 1,320 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Alkami Technology during the first quarter valued at approximately $45,000. Quarry LP acquired a new position in Alkami Technology in the first quarter worth $45,000. Cubist Systematic Strategies LLC acquired a new stake in Alkami Technology in the first quarter worth about $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Alkami Technology during the second quarter worth about $78,000. 52.74% of the stock is currently owned by institutional investors.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $18.01 on Wednesday. The company has a market capitalization of $1.70 billion, a PE ratio of -28.14 and a beta of 0.14. The stock’s fifty day moving average is $16.50 and its two-hundred day moving average is $14.70. Alkami Technology has a 52 week low of $10.70 and a 52 week high of $18.17. The company has a quick ratio of 5.44, a current ratio of 5.44 and a debt-to-equity ratio of 0.29.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Alkami Technology had a negative return on equity of 19.61% and a negative net margin of 25.43%. The company had revenue of $65.76 million for the quarter, compared to the consensus estimate of $62.94 million. As a group, analysts expect that Alkami Technology will post -0.59 earnings per share for the current year.

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.