Barclays Issues Pessimistic Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its target price reduced by equities research analysts at Barclays from $35.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 21.21% from the company’s current price.

A number of other research firms have also recently weighed in on ALKT. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a report on Thursday, March 13th. The Goldman Sachs Group cut their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.38.

Alkami Technology Price Performance

Shares of ALKT stock traded up $0.35 during mid-day trading on Monday, hitting $24.75. The company had a trading volume of 32,807 shares, compared to its average volume of 777,912. The company has a market capitalization of $2.55 billion, a P/E ratio of -52.71 and a beta of 0.56. Alkami Technology has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock’s 50 day moving average price is $28.21 and its 200-day moving average price is $33.78.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities research analysts forecast that Alkami Technology will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC bought a new position in Alkami Technology during the 4th quarter worth $34,000. Perkins Coie Trust Co raised its stake in shares of Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Alkami Technology in the 1st quarter worth approximately $36,000. NBC Securities Inc. grew its holdings in Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock valued at $60,000 after purchasing an additional 2,291 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Alkami Technology in the fourth quarter valued at approximately $61,000. 54.97% of the stock is owned by institutional investors and hedge funds.

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.