Stephens Upgrades Alkami Technology (NASDAQ:ALKT) to “Overweight”

Alkami Technology (NASDAQ:ALKT) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $40.00 price objective on the stock. Stephens’ target price points to a potential upside of 58.35% from the company’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Barclays reduced their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Up 0.0 %

Shares of ALKT opened at $25.26 on Thursday. The company has a market capitalization of $2.58 billion, a P/E ratio of -53.74 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a one year low of $22.65 and a one year high of $42.29. The business’s 50 day simple moving average is $32.54 and its 200-day simple moving average is $34.63.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, sell-side analysts predict that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction 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. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,767 shares of company stock worth $7,981,934 in the last three months. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after buying an additional 843,129 shares during the period. Alliancebernstein L.P. raised its stake in shares of Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after purchasing an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $78,878,000. Driehaus Capital Management LLC raised its stake in shares of Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company’s stock valued at $76,787,000 after purchasing an additional 299,728 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company’s stock valued at $66,457,000 after purchasing an additional 6,970 shares during the period. Institutional investors and hedge funds 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.