Alkami Technology (NASDAQ:ALKT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Alkami Technology (NASDAQ:ALKT) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.

A number of other research analysts have also issued reports on the stock. TheStreet raised shares of Alkami Technology from a d rating to a c- rating in a research note on Thursday, February 29th. William Blair restated an outperform rating on shares of Alkami Technology in a research report on Thursday, February 29th. Craig Hallum boosted their price target on Alkami Technology from $30.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Barclays raised their price target on Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a report on Thursday, February 29th. Finally, JMP Securities reiterated a market outperform rating and issued a $30.00 target price on shares of Alkami Technology in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $27.56.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $28.48 on Tuesday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $26.45 and a two-hundred day moving average of $25.06. The company has a market cap of $2.78 billion, a P/E ratio of -47.47 and a beta of 0.46. Alkami Technology has a 52 week low of $14.93 and a 52 week high of $29.28.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) EPS. As a group, analysts anticipate that Alkami Technology will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $12,585,824.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Stephen Bohanon sold 22,171 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $26.88, for a total transaction of $595,956.48. Following the sale, the insider now directly owns 407,940 shares of the company’s stock, valued at $10,965,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the completion of the transaction, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The disclosure for this sale can be found here. Insiders have sold 1,848,472 shares of company stock worth $49,241,550 in the last ninety days. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Hedge funds have recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $43,000. Beaird Harris Wealth Management LLC grew its position in Alkami Technology by 31.7% during the 3rd 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. Quest Partners LLC acquired a new stake in Alkami Technology during the 4th quarter valued at $113,000. Acadian Asset Management LLC purchased a new stake in shares of Alkami Technology in the first quarter valued at $140,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Alkami Technology by 253.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock worth $182,000 after buying an additional 5,445 shares during the period. 54.97% of the stock is owned by hedge funds and other 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.