The Goldman Sachs Group Issues Pessimistic Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price target reduced by The Goldman Sachs Group from $39.00 to $32.00 in a report published on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Barclays lowered their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Alkami Technology Trading Up 0.5 %

Shares of NASDAQ ALKT opened at $28.97 on Monday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -61.64 and a beta of 0.47. Alkami Technology has a twelve month low of $22.65 and a twelve month high of $42.29. The company’s fifty day moving average is $34.24 and its 200-day moving average is $34.98. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,767 shares of company stock valued at $9,984,434 in the last quarter. Company insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bosun Asset Management LLC increased its position in shares of Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock worth $849,000 after buying an additional 313 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after acquiring an additional 615 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology in the fourth quarter valued at $34,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after buying an additional 1,238 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.