Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $27.56.

A number of brokerages have issued reports on ALKT. Craig Hallum lifted their price objective on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Alkami Technology in a research note on Tuesday, June 25th.

Alkami Technology Price Performance

Shares of ALKT stock opened at $29.06 on Tuesday. The firm has a market cap of $2.83 billion, a P/E ratio of -48.43 and a beta of 0.47. Alkami Technology has a fifty-two week low of $14.93 and a fifty-two week high of $29.28. The business’s 50 day moving average price is $26.55 and its 200-day moving average price is $25.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. On average, equities research analysts anticipate that Alkami Technology will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO W Bryan Hill sold 100,000 shares of the business’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 transaction, the chief financial officer now directly owns 505,877 shares in the company, valued at $14,569,257.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares in the company, valued at $7,049,555.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,848,472 shares of company stock valued at $49,241,550. Company insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of Alkami Technology in the first quarter valued at about $5,569,000. Silvercrest Asset Management Group LLC lifted its position in shares of Alkami Technology by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock valued at $8,114,000 after acquiring an additional 14,316 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Alkami Technology in the first quarter valued at about $1,840,000. Price T Rowe Associates Inc. MD lifted its position in shares of Alkami Technology by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after buying an additional 1,460 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Alkami Technology in the first quarter worth about $237,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alkami Technology

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.