Alkami Technology (NASDAQ:ALKT) Stock Rating Reaffirmed by JMP Securities

Alkami Technology (NASDAQ:ALKT)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $30.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 25.84% from the company’s previous close.

Several other brokerages have also recently weighed in on ALKT. JPMorgan Chase & Co. lifted their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Alkami Technology in a report on Thursday, February 29th. TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. William Blair reissued an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and lifted their target price for the company from $23.00 to $27.00 in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.10.

Alkami Technology Stock Up 1.2 %

Shares of Alkami Technology stock opened at $23.84 on Monday. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06. Alkami Technology has a twelve month low of $10.93 and a twelve month high of $26.75. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -36.12 and a beta of 0.40. The company’s 50 day moving average is $24.44 and its 200 day moving average is $22.83.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The firm had revenue of $71.37 million for the quarter, compared to the consensus estimate of $71.12 million. Research analysts anticipate that Alkami Technology will post -0.41 EPS for the current year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at approximately $6,198,248.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Bohanon sold 29,052 shares of the firm’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 completion of the sale, the insider now directly 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. Insiders have sold 112,734 shares of company stock valued at $2,658,864 in the last ninety days. Corporate insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors boosted 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 valued at $113,488,000 after purchasing an additional 632,061 shares during the period. Vanguard Group Inc. raised 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 buying an additional 267,336 shares in the last quarter. BlackRock Inc. lifted its holdings in Alkami Technology by 14.1% during the second quarter. BlackRock Inc. now owns 2,683,362 shares of the company’s stock worth $43,980,000 after buying an additional 331,166 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Alkami Technology by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after acquiring an additional 217,123 shares in the last quarter. Finally, Long Path Partners Fund LP purchased a new position in shares of Alkami Technology in the 1st quarter valued at $25,297,000. 54.97% of the stock is 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.