Alkami Technology’s (ALKT) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $30.00 price target on the stock.

Several other brokerages have also recently issued reports on ALKT. TheStreet upgraded Alkami Technology from a d rating to a c- rating in a research note on Thursday, February 29th. William Blair reiterated an outperform rating on shares of Alkami Technology in a research note on Thursday, February 29th. KeyCorp raised their target price on Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their target price on Alkami Technology from $27.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC reiterated a buy rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $26.10.

Alkami Technology Stock Performance

Shares of ALKT opened at $23.56 on Monday. The business’s fifty day moving average price is $24.45 and its 200 day moving average price is $22.79. Alkami Technology has a 12-month low of $10.93 and a 12-month high of $26.75. The stock has a market capitalization of $2.30 billion, a PE ratio of -35.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The firm had revenue of $71.37 million for the quarter, compared to analysts’ expectations of $71.12 million. Equities research analysts forecast that Alkami Technology will post -0.41 EPS for the current year.

Insider Activity

In other news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,734 shares of company stock valued at $2,658,864. Company insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALKT. Long Path Partners Fund LP acquired a new position in Alkami Technology during the first quarter worth about $25,297,000. Scalar Gauge Management LLC acquired a new position in Alkami Technology during the fourth quarter worth about $20,694,000. The Manufacturers Life Insurance Company grew its holdings in Alkami Technology by 3,727.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock worth $20,719,000 after acquiring an additional 832,059 shares during the period. Vanguard Group Inc. grew its holdings in Alkami Technology by 24.4% during the third quarter. Vanguard Group Inc. now owns 3,552,542 shares of the company’s stock worth $53,466,000 after acquiring an additional 697,148 shares during the period. Finally, Capital International Investors grew its holdings in Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after acquiring an additional 632,061 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

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.