Alkami Technology (NASDAQ:ALKT) Price Target Raised to $31.00 at Barclays

Alkami Technology (NASDAQ:ALKT) had its price objective hoisted by Barclays from $28.00 to $31.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts also recently issued reports on ALKT. Craig Hallum upped their price target on Alkami Technology from $30.00 to $31.00 and gave the company a buy rating in a report on Thursday, May 2nd. Needham & Company LLC reissued a buy rating and issued a $32.00 target price on shares of Alkami Technology in a report on Tuesday, June 25th. Finally, JMP Securities reissued a market outperform rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $28.00.

Alkami Technology Trading Up 1.2 %

Shares of NASDAQ:ALKT opened at $30.75 on Thursday. The company has a market cap of $3.00 billion, a P/E ratio of -51.25 and a beta of 0.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. Alkami Technology has a 1 year low of $14.93 and a 1 year high of $31.31. The stock’s fifty day moving average price is $27.53 and its 200-day moving average price is $25.54.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for 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 company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. Sell-side analysts expect that Alkami Technology will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company’s stock in a transaction dated 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 sale, the director now owns 17,186,985 shares in the company, valued at $455,970,712.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $28.80, for a total value of $2,880,000.00. Following the completion of the sale, the chief financial officer now owns 505,877 shares in the company, valued at $14,569,257.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction dated 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 sale, the director now owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The disclosure for this sale can be found here. Insiders sold a total of 1,848,472 shares of company stock worth $49,241,550 over the last quarter. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Several institutional investors have recently made changes to their positions in ALKT. Vanguard Group Inc. grew its position in shares of Alkami Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock worth $78,252,000 after purchasing an additional 31,069 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Alkami Technology by 1,283.9% during the fourth quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock worth $2,030,000 after purchasing an additional 77,677 shares in the last quarter. Penbrook Management LLC grew its position in shares of Alkami Technology by 2.3% during the fourth quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock worth $1,502,000 after purchasing an additional 1,400 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $444,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $3,738,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.