Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of “Moderate Buy” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $33.89.

Several equities research analysts recently weighed in on the stock. Craig Hallum upped their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC increased their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JMP Securities increased their price target on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Alkami Technology Stock Up 0.8 %

ALKT stock opened at $33.93 on Thursday. The stock has a market cap of $3.31 billion, a PE ratio of -56.55 and a beta of 0.46. The firm’s 50-day simple moving average is $31.76 and its 200 day simple moving average is $29.07. Alkami Technology has a fifty-two week low of $17.28 and a fifty-two week high of $36.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same period last year, the firm earned ($0.17) EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alkami Technology will post -0.36 EPS for the current year.

Insider Activity

In related news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the transaction, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the sale, the director now owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian R. Smith sold 83,333 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the transaction, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock valued at $113,920,758 over the last three months. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. Scalar Gauge Management LLC purchased a new stake in shares of Alkami Technology in the fourth quarter worth approximately $20,694,000. Bullseye Asset Management LLC boosted its stake in shares of Alkami Technology by 23.1% during the 4th quarter. Bullseye Asset Management LLC now owns 79,988 shares of the company’s stock valued at $1,940,000 after buying an additional 15,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Alkami Technology by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock valued at $110,633,000 after acquiring an additional 267,336 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of Alkami Technology by 98.5% in the fourth quarter. Quadrature Capital Ltd now owns 23,347 shares of the company’s stock worth $566,000 after acquiring an additional 11,585 shares during the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after acquiring an additional 1,102 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.