Needham & Company LLC Has Lowered Expectations for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective dropped by equities researchers at Needham & Company LLC from $54.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 48.20% from the company’s previous close.

Several other equities analysts have also recently commented on ALKT. Barclays lowered their price target on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.88.

Alkami Technology Stock Up 3.5 %

Shares of Alkami Technology stock opened at $26.99 on Thursday. Alkami Technology has a 1 year low of $21.70 and a 1 year high of $42.29. The company has a market cap of $2.78 billion, a P/E ratio of -57.43 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock 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 posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $89.63 million. As a group, analysts expect that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

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

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $34,000. Perkins Coie Trust Co increased its position in Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. Versant Capital Management Inc acquired a new position in shares of Alkami Technology during the first quarter worth approximately $36,000. Amalgamated Bank boosted its position in shares of Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after acquiring an additional 704 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock worth $60,000 after acquiring an additional 2,291 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.