Lake Street Capital Has Lowered Expectations for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective reduced by equities research analysts at Lake Street Capital from $47.00 to $41.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 51.91% from the company’s previous close.

Several other equities research analysts also recently weighed in on ALKT. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of Alkami Technology in a research note on Thursday. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Needham & Company LLC decreased their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Barclays lowered their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group decreased their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $39.88.

Alkami Technology Stock Up 3.5 %

Shares of NASDAQ ALKT opened at $26.99 on Thursday. Alkami Technology has a 52 week low of $21.70 and a 52 week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -57.43 and a beta of 0.56. The firm has a 50-day moving average price of $26.00 and a 200 day moving average price of $33.05.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results 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). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Equities research analysts anticipate that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares of the company’s stock, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. Alliancebernstein L.P. raised its holdings in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after acquiring an additional 2,661,027 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Alkami Technology in the fourth quarter worth about $78,878,000. Champlain Investment Partners LLC acquired a new stake in shares of Alkami Technology during the 4th quarter valued at $57,772,000. Invesco Ltd. boosted its stake in shares of Alkami Technology by 353.1% during the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after purchasing an additional 1,134,746 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Alkami Technology by 278.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after buying an additional 1,055,828 shares during the period. Institutional investors 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.