Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Price Target at $28.57

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $28.5714.

Several brokerages have commented on ALKT. Needham & Company LLC lowered their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Barclays decreased their price target 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. lowered their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Citizens Jmp cut their target price on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st.

Alkami Technology Trading Down 2.7%

Shares of ALKT opened at $16.49 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09. Alkami Technology has a 52-week low of $14.11 and a 52-week high of $31.66. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -35.85 and a beta of 0.57. The business’s fifty day moving average is $19.54 and its 200-day moving average is $21.80.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,518 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $93,254.20. Following the sale, the insider owned 216,233 shares in the company, valued at $3,654,337.70. The trade was a 2.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Cassandra Hudson sold 6,869 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the transaction, the chief financial officer directly owned 286,757 shares of the company’s stock, valued at approximately $4,846,193.30. The trade was a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,739 shares of company stock worth $232,189. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after acquiring an additional 601 shares during the last quarter. First Horizon Corp bought a new position in shares of Alkami Technology during the third quarter valued at $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after purchasing an additional 692 shares during the period. EverSource Wealth Advisors LLC grew 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 worth $35,000 after purchasing an additional 916 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Alkami Technology in the fourth quarter worth $37,000. Institutional investors 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.