Alkami Technology (NASDAQ:ALKT) Given New $35.00 Price Target at Barclays

Alkami Technology (NASDAQ:ALKT) had its target price decreased by Barclays from $41.00 to $35.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. increased their price target 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Alkami Technology Price Performance

ALKT opened at $29.57 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of -62.91 and a beta of 0.47. The stock has a fifty day moving average of $34.67 and a 200-day moving average of $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 has a 12-month low of $22.65 and a 12-month high of $42.29.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $89.63 million. Equities analysts forecast that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction 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 owns 191,668 shares of the company’s stock, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their position. The transaction was disclosed in a document filed 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 on Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $14,072,256.57. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,000 shares of company stock valued at $9,322,500. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALKT. Alliancebernstein L.P. boosted its position in Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock worth $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 fourth quarter worth $78,878,000. Champlain Investment Partners LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth $57,772,000. Invesco Ltd. grew its stake in Alkami Technology by 353.1% in the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after buying an additional 1,134,746 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alkami Technology by 278.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after acquiring an additional 1,055,828 shares during the period. 54.97% of the stock is owned by 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.