Alkami Technology (NASDAQ:ALKT) Price Target Increased to $31.00 by Analysts at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its price objective increased by Craig Hallum from $30.00 to $31.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the stock. TheStreet raised shares of Alkami Technology from a d rating to a c- rating in a research report on Thursday, February 29th. KeyCorp upped their target price on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a research note on Monday, January 8th. William Blair reiterated an outperform rating on shares of Alkami Technology in a research note on Thursday, February 29th. Barclays upped their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an equal weight rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC upped their target price on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a buy rating in a research note on Thursday. Three investment 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 has a consensus rating of Moderate Buy and a consensus price target of $26.90.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $27.33 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The business’s 50 day simple moving average is $24.15 and its two-hundred day simple moving average is $23.49. The stock has a market capitalization of $2.66 billion, a P/E ratio of -45.55 and a beta of 0.40. Alkami Technology has a one year low of $11.23 and a one year high of $27.87.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the firm earned ($0.16) EPS. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts forecast that Alkami Technology will post -0.41 EPS for the current year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the 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 transaction, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,734 shares of company stock valued at $2,658,864. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Alkami Technology in the 4th quarter valued at about $43,000. Beaird Harris Wealth Management LLC grew its stake in Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Alkami Technology during the 3rd quarter worth $39,000. Quest Partners LLC bought a new stake in Alkami Technology during the 4th quarter valued at $113,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Alkami Technology in the 3rd quarter worth $110,000. 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.