Craig Hallum Raises Alkami Technology (NASDAQ:ALKT) Price Target to $45.00

Alkami Technology (NASDAQ:ALKT) had its price objective upped by Craig Hallum from $38.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 19.68% from the stock’s current price.

A number of other research analysts also recently commented on the stock. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday. Lake Street Capital increased their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays increased their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Trading Up 2.7 %

Shares of Alkami Technology stock opened at $37.60 on Thursday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.46. The business has a 50-day moving average price of $33.18 and a 200-day moving average price of $30.19. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology has a twelve month low of $18.03 and a twelve month high of $41.36.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The firm had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. During the same quarter last year, the business posted ($0.17) earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that Alkami Technology will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the sale, the insider now owns 388,181 shares of the company’s stock, valued at $12,262,637.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the transaction, the director now directly owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Bohanon sold 15,605 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total transaction of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares in the company, valued at approximately $12,262,637.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock valued at $113,920,758 over the last 90 days. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the stock. Trust Point Inc. purchased a new position in shares of Alkami Technology during the third quarter worth approximately $1,029,000. Lisanti Capital Growth LLC purchased a new position in Alkami Technology during the first quarter valued at approximately $3,316,000. Driehaus Capital Management LLC increased its holdings in Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the period. Millennium Management LLC increased its holdings in Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after buying an additional 284,977 shares during the period. Finally, Hodges Capital Management Inc. increased its holdings in Alkami Technology by 24.0% during the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock valued at $6,024,000 after buying an additional 40,949 shares during the period. 54.97% of the stock is 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.