Alkami Technology (NASDAQ:ALKT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Alkami Technology (NASDAQ:ALKT) had its target price lifted by equities research analysts at The Goldman Sachs Group from $34.00 to $39.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 3.72% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ALKT. JMP Securities upped their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Lake Street Capital lifted their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $37.60 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.46. The firm has a fifty day moving average price of $33.18 and a 200 day moving average price of $30.24. Alkami Technology has a fifty-two week low of $18.03 and a fifty-two week high of $41.36. 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 (NASDAQ:ALKT) last released 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 net margin of 14.55% and a negative return on equity of 11.43%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect 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, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Stephen Bohanon sold 35,893 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the sale, the insider now owns 403,786 shares in the company, valued at $13,567,209.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 69,511 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at $16,314,595.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,648,416 shares of company stock worth $113,920,758. 38.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd grew its stake in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the period. Principal Financial Group Inc. purchased a new position in Alkami Technology during the third quarter worth approximately $875,000. Olympiad Research LP purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $429,000. Arlington Capital Management Inc. lifted its position in shares of Alkami Technology by 3.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock valued at $2,239,000 after buying an additional 2,417 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after acquiring an additional 691 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Company Profile

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.