Alkami Technology (NASDAQ:ALKT) Price Target Lowered to $32.00 at The Goldman Sachs Group

Alkami Technology (NASDAQ:ALKT) had its price objective reduced by The Goldman Sachs Group from $39.00 to $32.00 in a report issued on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on the stock. Barclays cut their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.14.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $29.57 on Monday. Alkami Technology has a 12-month low of $22.65 and a 12-month high of $42.29. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -62.91 and a beta of 0.47. The stock’s 50 day moving average price is $34.67 and its two-hundred day moving average price is $35.04. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, analysts anticipate that Alkami Technology will post -0.34 earnings per share for the current year.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the sale, the insider now directly owns 191,668 shares in the company, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,000 shares of company stock worth $9,322,500. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology during the 4th quarter worth $34,000. Advisors Asset Management Inc. grew its stake in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Quarry LP acquired a new stake in Alkami Technology during the fourth quarter worth about $61,000. Neo Ivy Capital Management bought a new position in Alkami Technology in the 4th quarter valued at about $96,000. Finally, Covestor Ltd raised its position in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.