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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $26.6667.

A number of research analysts have recently issued reports on ALKT shares. Citizens Jmp dropped their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Barclays cut their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $15.94 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -34.65 and a beta of 0.57. The firm’s fifty day moving average price is $16.71 and its 200 day moving average price is $19.80. Alkami Technology has a 1-year low of $14.11 and a 1-year high of $31.66.

Insider Transactions at Alkami Technology

In related news, Director Joseph P. Payne acquired 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average price of $18.23 per share, with a total value of $100,265.00. Following the completion of the acquisition, the director owned 26,628 shares in the company, valued at approximately $485,428.44. This represents a 26.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Atlantic Genpar (Bermu General bought 500,000 shares of the stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $18.33 per share, for a total transaction of $9,165,000.00. Following the completion of the transaction, the director directly owned 15,379,451 shares of the company’s stock, valued at $281,905,336.83. This trade represents a 3.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after purchasing an additional 544 shares during the last quarter. Amundi increased its position in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after buying an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Alkami Technology by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after buying an additional 691 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.