Alkami Technology (NASDAQ:ALKT) Sets New 52-Week High at $28.25

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $28.25 and last traded at $28.25, with a volume of 150 shares trading hands. The stock had previously closed at $27.33.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC lifted their price objective on Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Craig Hallum increased their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. William Blair restated an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Finally, Barclays upped their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average target price of $26.90.

Alkami Technology Trading Up 2.3 %

The company has a 50-day moving average price of $24.17 and a 200 day moving average price of $23.54. The stock has a market capitalization of $2.69 billion, a P/E ratio of -46.05 and a beta of 0.40. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. During the same period in the prior year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was up 26.8% on a year-over-year basis. On average, research analysts forecast that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the sale, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at approximately $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the sale, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,734 shares of company stock valued at $2,658,864. 25.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors have recently made changes to their positions in ALKT. SG Americas Securities LLC acquired a new position in Alkami Technology in the 3rd quarter worth about $110,000. Bank of New York Mellon Corp lifted its position in shares of Alkami Technology by 12.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 125,923 shares of the company’s stock valued at $2,294,000 after buying an additional 14,245 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Alkami Technology by 26.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock valued at $167,000 after acquiring an additional 1,915 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alkami Technology by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after acquiring an additional 1,494 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in Alkami Technology during the third quarter worth $2,670,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

About Alkami Technology

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.