Alkami Technology (NASDAQ:ALKT) Price Target Cut to $30.00 by Analysts at Barclays

Alkami Technology (NASDAQ:ALKT) had its price objective trimmed by Barclays from $35.00 to $30.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

ALKT has been the subject of a number of other reports. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Thursday, March 13th. The Goldman Sachs Group decreased their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and an average target price of $40.38.

Alkami Technology Stock Up 0.8 %

Alkami Technology stock opened at $24.60 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The firm has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $33.73. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -52.34 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, analysts forecast that Alkami Technology will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently added to or reduced their stakes in ALKT. Bosun Asset Management LLC boosted its stake in shares of Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock valued at $849,000 after purchasing an additional 313 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after acquiring an additional 615 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the 4th quarter worth $34,000. Finally, Summit Investment Advisors Inc. raised its position in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after acquiring an additional 1,238 shares during the last quarter. 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.