Alkami Technology (NASDAQ:ALKT) Given New $39.00 Price Target at The Goldman Sachs Group

Alkami Technology (NASDAQ:ALKT) had its price target increased by The Goldman Sachs Group from $34.00 to $39.00 in a research report report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Lake Street Capital lifted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum lifted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities lifted their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology Stock Up 2.7 %

NASDAQ:ALKT traded up $0.99 during mid-day trading on Friday, reaching $37.60. The stock had a trading volume of 851,072 shares, compared to its average volume of 456,268. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.46. Alkami Technology has a 1-year low of $18.03 and a 1-year high of $41.36. The stock’s 50 day simple moving average is $33.18 and its two-hundred day simple moving average is $30.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 EPS 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 company had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. Alkami Technology’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Alkami Technology will post -0.36 EPS for the current year.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the completion of the transaction, the director now owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,648,416 shares of company stock valued at $113,920,758. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of ALKT. Park Place Capital Corp acquired a new stake in shares of Alkami Technology in the 3rd quarter valued at about $28,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at about $40,000. Perkins Coie Trust Co acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at about $85,000. Finally, Covestor Ltd raised its stake 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 purchasing an additional 2,646 shares during the period. 54.97% of the stock is currently 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.