Alkami Technology (NASDAQ:ALKT) Given New $31.00 Price Target at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its target price upped by equities research analysts at Craig Hallum from $30.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 13.43% from the company’s previous close.

A number of other brokerages have also recently issued reports on ALKT. William Blair reiterated an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Alkami Technology Trading Up 2.4 %

ALKT opened at $27.33 on Thursday. The company has a fifty day moving average price of $24.12 and a two-hundred day moving average price of $23.35. Alkami Technology has a 1-year low of $11.23 and a 1-year high of $27.87. The company has a market cap of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. Analysts predict that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the transaction, the insider now owns 262,749 shares in the company, valued at $6,198,248.91. The disclosure for this sale can be found here. Insiders sold a total of 112,734 shares of company stock valued at $2,658,864 over the last three months. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at $110,000. Bank of New York Mellon Corp raised its stake in Alkami Technology by 12.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 125,923 shares of the company’s stock valued at $2,294,000 after acquiring an additional 14,245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Alkami Technology by 26.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock valued at $167,000 after purchasing an additional 1,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Alkami Technology by 9.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after purchasing an additional 1,494 shares during the period. Finally, Roubaix Capital LLC purchased a new position in shares of Alkami Technology in the third quarter worth about $2,670,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.