JMP Securities Raises Alkami Technology (NASDAQ:ALKT) Price Target to $41.00

Alkami Technology (NASDAQ:ALKTGet Free Report) had its price target lifted by analysts at JMP Securities from $38.00 to $41.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 7.39% from the stock’s current price.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group upped their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Craig Hallum boosted their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Lake Street Capital lifted their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $34.22.

Read Our Latest Stock Analysis on ALKT

Alkami Technology Stock Down 1.2 %

ALKT opened at $38.18 on Tuesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -70.70 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The firm’s fifty day moving average is $33.01 and its 200 day moving average is $30.05. Alkami Technology has a fifty-two week low of $17.32 and a fifty-two week high of $39.48.

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

Insider Buying and Selling at Alkami Technology

In related news, Director Brian R. Smith sold 83,333 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares of the company’s stock, valued at $24,454,392.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the sale, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction that occurred 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 owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 over the last three months. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the 3rd quarter worth about $28,000. Blue Trust Inc. grew its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the period. Point72 Asset Management L.P. purchased a new position in Alkami Technology in the second quarter worth approximately $40,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology during the 2nd quarter worth about $85,000. Finally, nVerses Capital LLC acquired a new stake in shares of Alkami Technology during the second quarter valued at about $88,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

(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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