Alkami Technology (NASDAQ:ALKT) Reaches New 1-Year High – Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.85 and last traded at $39.85, with a volume of 1213 shares. The stock had previously closed at $38.18.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Craig Hallum upped their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities raised their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Lake Street Capital upped their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price objective on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $33.89.

Alkami Technology Price Performance

The company has a market capitalization of $3.73 billion, a PE ratio of -63.77 and a beta of 0.46. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $32.59 and its 200-day moving average is $29.71.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. Equities analysts predict that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the transaction, the insider now directly owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 over the last ninety days. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Wasatch Advisors LP purchased a new stake in shares of Alkami Technology during the first quarter worth about $37,178,000. Driehaus Capital Management LLC increased its stake in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the period. Millennium Management LLC raised its holdings in shares of Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after acquiring an additional 284,977 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $110,633,000 after acquiring an additional 267,336 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Alkami Technology in the first quarter worth $5,569,000. Institutional investors own 54.97% of the company’s stock.

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.