Alkami Technology (NASDAQ:ALKT) Given New $31.00 Price Target at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its price target hoisted by Craig Hallum from $30.00 to $31.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

ALKT has been the subject of a number of other reports. William Blair reaffirmed an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. Barclays lifted their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a report on Thursday, February 29th. KeyCorp increased their target price on Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a report on Monday, January 8th. The Goldman Sachs Group lowered Alkami Technology from a buy rating to a neutral rating and boosted their price target for the company from $23.00 to $27.00 in a research note on Tuesday, January 23rd. Finally, JMP Securities reissued a market outperform rating and set a $30.00 price objective on shares of Alkami Technology in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $26.90.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT traded up $0.64 during mid-day trading on Thursday, hitting $27.33. The company had a trading volume of 622,085 shares, compared to its average volume of 321,106. Alkami Technology has a 12 month low of $11.23 and a 12 month high of $27.87. The firm has a market cap of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40. The business’s 50-day simple moving average is $24.12 and its 200-day simple moving average is $23.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. As a group, analysts predict that Alkami Technology will post -0.41 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the sale, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Stephen Bohanon sold 29,052 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares in the company, valued at approximately $10,009,625.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders sold 112,734 shares of company stock valued at $2,658,864 over the last ninety days. 38.00% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. Capital International Investors boosted its stake in shares of Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after purchasing an additional 632,061 shares during the last quarter. Vanguard Group Inc. boosted its stake in Alkami Technology by 6.2% in the fourth 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after acquiring an additional 217,123 shares during the last quarter. Wasatch Advisors LP acquired a new stake in Alkami Technology during the 1st quarter worth $37,178,000. Finally, FMR LLC raised its position in shares of Alkami Technology by 1.8% during the 3rd quarter. FMR LLC now owns 1,182,327 shares of the company’s stock valued at $21,542,000 after acquiring an additional 21,086 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.