Alkami Technology (NASDAQ:ALKT) Price Target Lowered to $22.00 at JPMorgan Chase & Co.

Alkami Technology (NASDAQ:ALKT) had its price target trimmed by JPMorgan Chase & Co. from $38.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group lowered their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Barclays reduced their price target on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of “Hold” and an average target price of $32.29.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $16.80 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The firm’s fifty day simple moving average is $20.77 and its 200 day simple moving average is $22.17. The stock has a market cap of $1.76 billion, a P/E ratio of -39.07 and a beta of 0.53. Alkami Technology has a twelve month low of $15.73 and a twelve month high of $33.53.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the sale, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares during the last quarter. First Horizon Corp bought a new stake in shares of Alkami Technology in the third quarter worth $30,000. Assetmark Inc. purchased a new position in Alkami Technology in the second quarter worth about $44,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the period. Institutional investors own 54.97% of the company’s stock.

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.