Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $36.00

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.00.

ALKT has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Zacks Research cut shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC decreased their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $40.00 price objective on shares of Alkami Technology in a research note on Thursday, January 29th.

Alkami Technology Stock Up 3.5%

Shares of ALKT opened at $17.43 on Thursday. The firm has a 50 day simple moving average of $21.52 and a two-hundred day simple moving average of $22.69. The company has a market cap of $1.83 billion, a P/E ratio of -40.53 and a beta of 0.53. Alkami Technology has a one year low of $16.23 and a one year high of $36.35. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ALKT. Blue Trust Inc. boosted its stake in shares of Alkami Technology by 27.6% during the second quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after purchasing an additional 401 shares in the last quarter. AlphaQuest LLC raised its holdings in Alkami Technology by 54.5% in the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after buying an additional 544 shares during the last quarter. Amundi boosted its position in Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares during the period. Advisors Asset Management Inc. grew its holdings in Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares during the last quarter. Finally, CWM LLC increased its position in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after acquiring an additional 601 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.