Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKTGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $26.90.

Several research firms have recently issued reports on ALKT. TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th.

View Our Latest Research Report on Alkami Technology

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now directly owns 17,186,985 shares in the company, valued at $455,970,712.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now directly owns 17,186,985 shares in the company, valued at $455,970,712.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold 1,726,585 shares of company stock worth $45,495,640 in the last ninety days. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Capital International Investors increased its stake in shares of Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after acquiring an additional 632,061 shares during the period. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after acquiring an additional 88,390 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Alkami Technology by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock worth $40,900,000 after acquiring an additional 217,123 shares during the period. Wasatch Advisors LP acquired a new position in shares of Alkami Technology during the first quarter worth about $37,178,000. Finally, FMR LLC increased its stake in shares of Alkami Technology by 1.8% during the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after acquiring an additional 21,086 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $27.71 on Monday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a 52 week low of $13.77 and a 52 week high of $27.94. The stock has a market capitalization of $2.70 billion, a PE ratio of -46.18 and a beta of 0.40. The firm has a 50 day moving average of $24.53 and a two-hundred day moving average of $24.07.

Alkami Technology (NASDAQ:ALKTGet Free Report) last issued 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 company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. During the same quarter last year, the company posted ($0.16) EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. On average, research analysts predict that Alkami Technology will post -0.39 EPS for the current fiscal year.

Alkami Technology Company Profile

(Get Free Report

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.

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Analyst Recommendations for Alkami Technology (NASDAQ:ALKT)

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