Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $26.67

Alkami Technology, Inc. (NASDAQ:ALKT) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.6667.

ALKT has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Barclays lowered their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citizens Jmp cut their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. Finally, Needham & Company LLC reduced their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $15.25 on Friday. Alkami Technology has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $17.70 and its 200-day simple moving average is $20.87. The firm has a market cap of $1.62 billion, a P/E ratio of -33.15 and a beta of 0.57.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 5,518 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $93,254.20. Following the completion of the sale, the insider directly owned 216,233 shares of the company’s stock, valued at $3,654,337.70. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cassandra Hudson sold 6,869 shares of Alkami Technology stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the sale, the chief financial officer owned 286,757 shares in the company, valued at approximately $4,846,193.30. This trade represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 3,351,515 shares of company stock worth $59,829,413 and sold 13,739 shares worth $232,189. Corporate insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC acquired a new position in Alkami Technology during the third quarter worth about $1,831,000. JANA Partners Management LP acquired a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $47,008,000. Chicago Capital LLC purchased a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $33,665,000. Algebris UK Ltd. acquired a new stake in shares of Alkami Technology in the 3rd quarter worth approximately $12,728,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Alkami Technology by 160.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after acquiring an additional 1,904,474 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

About Alkami Technology

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.