Alkami Technology (NASDAQ:ALKT) Sets New 12-Month Low Following Analyst Downgrade

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price hit a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $38.00 to $22.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alkami Technology traded as low as $15.73 and last traded at $16.28, with a volume of 3448624 shares trading hands. The stock had previously closed at $16.27.

A number of other brokerages also recently commented on ALKT. Zacks Research downgraded shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC cut their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Alkami Technology in a report on Thursday, January 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Barclays decreased 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 research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and a consensus price target of $32.29.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the transaction, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently bought and sold shares of the stock. General Atlantic L.P. raised its stake in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after purchasing an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. lifted its position in Alkami Technology by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after acquiring an additional 456,275 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after purchasing an additional 1,394,617 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after purchasing an additional 430,632 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Up 2.2%

The firm has a 50-day moving average of $20.66 and a two-hundred day moving average of $22.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17.

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.