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

Shares of Alkami Technology, Inc. (NASDAQ:ALKTGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.89.

Several equities research analysts have recently weighed in on ALKT shares. Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum increased their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities boosted their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC boosted their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Get Our Latest Stock Report on ALKT

Alkami Technology Stock Down 0.5 %

Shares of NASDAQ ALKT opened at $33.01 on Thursday. The company has a 50 day simple moving average of $31.61 and a 200 day simple moving average of $28.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. Alkami Technology has a 1 year low of $16.49 and a 1 year high of $36.00. The firm has a market cap of $3.22 billion, a PE ratio of -55.02 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKTGet Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, research analysts forecast that Alkami Technology will post -0.36 EPS for the current year.

Insider Buying and Selling

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian R. Smith sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the transaction, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,648,416 shares of company stock valued at $113,920,758 over the last ninety days. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP bought a new stake in shares of Alkami Technology in the 1st quarter worth $37,178,000. Scalar Gauge Management LLC purchased a new position in Alkami Technology in the fourth quarter worth $20,694,000. Driehaus Capital Management LLC grew its stake in Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after purchasing an additional 392,483 shares during the period. Millennium Management LLC increased its position in shares of Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alkami Technology by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

About Alkami Technology

(Get Free Report

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.

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Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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