Alkami Technology (NASDAQ:ALKT) Given New $22.00 Price Target at JPMorgan Chase & Co.

Alkami Technology (NASDAQ:ALKT) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $38.00 to $22.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 33.45% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Citizens Jmp reissued a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a research note on Thursday, January 29th. Barclays dropped their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group lowered their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.29.

Alkami Technology Stock Up 1.3%

NASDAQ:ALKT traded up $0.21 on Wednesday, hitting $16.49. 635,104 shares of the company’s stock traded hands, compared to its average volume of 1,826,167. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. Alkami Technology has a 1 year low of $15.73 and a 1 year high of $33.53. The firm has a 50-day moving average price of $20.88 and a 200-day moving average price of $22.21. The company has a market cap of $1.73 billion, a PE ratio of -38.36 and a beta of 0.53.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the transaction, the insider directly owned 221,751 shares of the company’s stock, valued at $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently bought and sold shares of ALKT. CWM LLC lifted its holdings in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after acquiring an additional 601 shares during the period. EverSource Wealth Advisors LLC raised its position in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares in the last quarter. First Horizon Corp bought a new position in Alkami Technology during the third quarter worth about $30,000. Assetmark Inc. acquired a new stake in Alkami Technology during the second quarter valued at approximately $44,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.