Alkami Technology, Inc. (NASDAQ:ALKT) Receives $33.89 Average Target Price from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.89.

Several research firms have commented on ALKT. Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities upped their target price on shares of Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays upped their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Craig Hallum upped their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st.

Alkami Technology Price Performance

ALKT opened at $32.05 on Friday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -53.42 and a beta of 0.47. Alkami Technology has a fifty-two week low of $16.49 and a fifty-two week high of $36.00. The company’s 50-day moving average price is $31.86 and its 200 day moving average price is $27.89. 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 (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. Alkami Technology’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, sell-side analysts expect that Alkami Technology will post -0.36 earnings per share for the current year.

Insider Activity

In other news, major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the completion of the transaction, the insider now directly owns 8,419,784 shares in the company, valued at $262,444,667.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the sale, the insider now directly owns 8,419,784 shares of the company’s stock, valued at $262,444,667.28. The disclosure for this sale can be found here. Insiders sold 3,593,370 shares of company stock worth $112,203,873 over the last three months. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKT. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the second quarter valued at approximately $40,000. NBC Securities Inc. purchased a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $43,000. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology in the 2nd quarter valued at approximately $85,000. nVerses Capital LLC purchased a new stake in shares of Alkami Technology in the 2nd quarter valued at approximately $88,000. Finally, Quest Partners LLC purchased a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $113,000. 54.97% of the stock is owned by institutional investors and hedge funds.

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.