Barclays Forecasts Strong Price Appreciation for Alkami Technology (NASDAQ:ALKT) Stock

Alkami Technology (NASDAQ:ALKT) had its price target increased by equities research analysts at Barclays from $35.00 to $41.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.04% from the company’s previous close.

ALKT has been the subject of several other reports. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. 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. JMP Securities increased their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Lake Street Capital raised their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Trading Up 2.7 %

Shares of NASDAQ ALKT opened at $37.60 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. Alkami Technology has a 52-week low of $18.03 and a 52-week high of $41.36. The firm has a 50 day moving average price of $33.18 and a two-hundred day moving average price of $30.19. The stock has a market cap of $3.72 billion, a P/E ratio of -80.00 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last announced 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 14.55% and a negative return on equity of 11.43%. The firm had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue was up 24.9% on a year-over-year basis. As a group, equities analysts forecast that Alkami Technology will post -0.36 EPS for the current year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the transaction, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred on 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 transaction, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. 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 valued at $113,920,758 over the last three months. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently modified their holdings of the company. Park Place Capital Corp bought a new position in shares of Alkami Technology during the 3rd quarter worth approximately $28,000. Blue Trust Inc. raised its holdings 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 worth $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology in the 2nd quarter worth approximately $40,000. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology in the 2nd quarter worth approximately $85,000. Finally, nVerses Capital LLC bought a new stake in shares of Alkami Technology in the 2nd quarter worth approximately $88,000. 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.