Alkami Technology (NASDAQ:ALKT) Price Target Raised to $32.00 at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price target hoisted by equities research analysts at Needham & Company LLC from $30.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 17.09% from the stock’s current price.

A number of other research firms have also recently commented on ALKT. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and increased their target price for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. KeyCorp raised their price objective on Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus target price of $26.90.

Alkami Technology Trading Up 2.4 %

ALKT opened at $27.33 on Thursday. Alkami Technology has a one year low of $11.23 and a one year high of $27.87. The stock has a market capitalization of $2.66 billion, a PE ratio of -45.55 and a beta of 0.40. The business’s 50 day moving average price is $24.12 and its 200 day moving average price is $23.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same period in the prior year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities research analysts expect that Alkami Technology will post -0.41 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, insider Stephen Bohanon sold 29,052 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the sale, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,734 shares of company stock valued at $2,658,864. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Alkami Technology during the 3rd quarter valued at $110,000. Bank of New York Mellon Corp grew 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 buying an additional 14,245 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Alkami Technology by 26.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock valued at $167,000 after buying an additional 1,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Alkami Technology by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock valued at $322,000 after buying an additional 1,494 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new position in Alkami Technology in the 3rd quarter valued at $2,670,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.