Alkami Technology (NASDAQ:ALKT) Upgraded at Stephens

Alkami Technology (NASDAQ:ALKT) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $40.00 target price on the stock. Stephens’ price objective suggests a potential upside of 64.74% from the company’s current price.

ALKT has been the topic of several other research reports. The Goldman Sachs Group cut their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Barclays dropped their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Trading Up 2.2 %

NASDAQ ALKT opened at $24.28 on Thursday. The business has a 50 day simple moving average of $33.02 and a 200 day simple moving average of $34.75. Alkami Technology has a one year low of $22.65 and a one year high of $42.29. The stock has a market capitalization of $2.48 billion, a P/E ratio of -51.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million during 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%. Research analysts expect that Alkami Technology will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at $14,072,256.57. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value 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. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,767 shares of company stock worth $7,981,934. 38.00% of the stock is owned by company insiders.

Institutional Trading of Alkami Technology

A number of large investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alkami Technology in the fourth quarter worth $4,384,000. Jefferies Financial Group Inc. purchased a new position in shares of Alkami Technology in the fourth quarter valued at $2,704,000. Mackenzie Financial Corp grew its position in shares of Alkami Technology by 244.9% in the fourth quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock valued at $972,000 after purchasing an additional 18,823 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Alkami Technology by 18.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock valued at $3,036,000 after purchasing an additional 12,952 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Alkami Technology in the fourth quarter valued at $96,000. 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.