Alkami Technology (NASDAQ:ALKT) Price Target Raised to $32.00 at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its price target raised by Needham & Company LLC from $30.00 to $32.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group cut Alkami Technology from a buy rating to a neutral rating and upped their price target for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. TheStreet raised shares of Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. JMP Securities reiterated a market outperform rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. KeyCorp boosted their price target on shares of Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a research report on Monday, January 8th. Finally, William Blair reaffirmed an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $26.90.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $27.33 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -45.55 and a beta of 0.40. Alkami Technology has a 52 week low of $11.23 and a 52 week high of $27.87. The firm’s 50-day simple moving average is $24.15 and its two-hundred day simple moving average is $23.41.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping 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 company had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. Alkami Technology’s revenue was up 26.8% on a year-over-year basis. As a group, equities analysts forecast that Alkami Technology will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 112,734 shares of company stock worth $2,658,864 in the last three months. 38.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC raised its position in shares of Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Alkami Technology during the third quarter valued at about $39,000. NBC Securities Inc. purchased a new stake in Alkami Technology during the fourth quarter valued at about $43,000. SG Americas Securities LLC bought a new stake in Alkami Technology during the third quarter worth about $110,000. Finally, Quest Partners LLC purchased a new position in shares of Alkami Technology in the 4th quarter worth about $113,000. 54.97% of the stock is currently owned by institutional investors.

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.