Barclays Issues Pessimistic Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective cut by stock analysts at Barclays from $30.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 23.21% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Citizens Jmp cut their target price on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $26.00 price target on shares of Alkami Technology in a research note on Friday. Needham & Company LLC dropped their price target on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $20.29 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology has a fifty-two week low of $19.28 and a fifty-two week high of $42.29. The firm has a market capitalization of $2.11 billion, a PE ratio of -47.19 and a beta of 0.57. The stock’s 50-day simple moving average is $24.39 and its 200-day simple moving average is $26.30.

Insider Activity

In other news, CAO Prerna Sachdeva sold 2,967 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the transaction, the chief accounting officer owned 66,061 shares of the company’s stock, valued at approximately $1,635,670.36. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 20,366 shares of Alkami Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares in the company, valued at approximately $10,148,851.64. This trade represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,396,162 shares of company stock valued at $29,692,440. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Alkami Technology

A number of institutional investors have recently modified their holdings of ALKT. CWM LLC boosted its stake in shares of Alkami Technology by 176.2% in the second quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Alkami Technology in the second quarter valued at approximately $44,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Alkami Technology in the second quarter valued at approximately $49,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.