Citizens Jmp Issues Pessimistic Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective lowered by equities researchers at Citizens Jmp from $46.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 97.14% from the company’s previous close.

Several other research firms have also commented on ALKT. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $26.00 price target on shares of Alkami Technology in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reduced their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Stock Down 7.7%

ALKT stock opened at $20.29 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of -47.19 and a beta of 0.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. The firm’s 50 day moving average price is $24.39 and its 200-day moving average price is $26.30. Alkami Technology has a one year low of $19.28 and a one year high of $42.29.

Insider Activity at Alkami Technology

In related news, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $73,462.92. Following the completion of the sale, the chief accounting officer owned 66,061 shares in the company, valued at approximately $1,635,670.36. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 20,366 shares of Alkami Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares of the company’s stock, valued at $10,148,851.64. This trade represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders purchased 1,396,162 shares of company stock worth $29,692,440. Insiders own 18.10% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in ALKT. KBC Group NV acquired a new stake in Alkami Technology in the 1st quarter valued at approximately $73,000. Amalgamated Bank increased its holdings in Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after purchasing an additional 704 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Alkami Technology in the first quarter worth $248,000. Principal Financial Group Inc. increased its position in shares of Alkami Technology by 2.7% during the first quarter. Principal Financial Group Inc. now owns 31,892 shares of the company’s stock worth $837,000 after acquiring an additional 850 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Alkami Technology by 81.8% during the first quarter. Bank of New York Mellon Corp now owns 525,146 shares of the company’s stock worth $13,785,000 after acquiring an additional 236,284 shares during the period. Institutional investors and hedge funds 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.