Alkami Technology (NASDAQ:ALKT) Given New $36.00 Price Target at Lake Street Capital

Alkami Technology (NASDAQ:ALKT) had its price objective lifted by Lake Street Capital from $30.00 to $36.00 in a research report sent to investors on Thursday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other analysts also recently issued reports on ALKT. The Goldman Sachs Group lifted their target price on Alkami Technology from $28.00 to $34.00 and gave the company a neutral rating in a research note on Thursday. JMP Securities lifted their price objective on Alkami Technology from $30.00 to $35.00 and gave the stock a market outperform rating in a research note on Monday, July 22nd. Craig Hallum lifted their price objective on Alkami Technology from $31.00 to $38.00 and gave the stock a buy rating in a research note on Thursday. Barclays lifted their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an equal weight rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $32.00 price objective on shares of Alkami Technology in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $32.50.

Alkami Technology Stock Down 5.8 %

NASDAQ ALKT opened at $30.36 on Thursday. The stock’s 50-day moving average price is $29.32 and its 200-day moving average price is $26.46. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a 52 week low of $14.93 and a 52 week high of $36.00. The company has a market capitalization of $2.96 billion, a P/E ratio of -53.73 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. On average, equities research analysts predict that Alkami Technology will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Bohanon sold 12,450 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.66, for a total value of $356,817.00. Following the completion of the transaction, the insider now directly owns 449,552 shares of the company’s stock, valued at $12,884,160.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,777,442 shares of company stock worth $47,335,815. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC increased its position in Alkami Technology by 138.3% during the 4th quarter. Jump Financial LLC now owns 55,767 shares of the company’s stock valued at $1,352,000 after buying an additional 32,367 shares in the last quarter. Wasatch Advisors LP purchased a new stake in Alkami Technology during the 1st quarter valued at about $37,178,000. Lisanti Capital Growth LLC purchased a new stake in Alkami Technology during the 1st quarter valued at about $3,316,000. Trexquant Investment LP purchased a new stake in Alkami Technology during the 4th quarter valued at about $1,094,000. Finally, Quest Partners LLC purchased a new stake in Alkami Technology during the 4th quarter valued at about $113,000. 54.97% of the stock is 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.