Alkami Technology (NASDAQ:ALKT) Price Target Raised to $32.00 at Needham & Company LLC

Alkami Technology (NASDAQ:ALKT) had its target price raised by Needham & Company LLC from $30.00 to $32.00 in a report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Barclays lifted their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. JMP Securities reiterated a market outperform rating and issued a $30.00 price objective on shares of Alkami Technology in a report on Monday, April 15th. KeyCorp boosted their target price on Alkami Technology from $21.00 to $26.00 and gave the stock an overweight rating in a research report on Monday, January 8th. The Goldman Sachs Group lowered shares of Alkami Technology from a buy rating to a neutral rating and lifted their price target for the stock from $23.00 to $27.00 in a research note on Tuesday, January 23rd. Finally, William Blair restated an outperform rating on shares of Alkami Technology in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $26.90.

Alkami Technology Stock Up 2.4 %

ALKT stock traded up $0.64 during trading on Thursday, hitting $27.33. 622,085 shares of the stock traded hands, compared to its average volume of 321,106. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -45.55 and a beta of 0.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. Alkami Technology has a 1 year low of $11.23 and a 1 year high of $27.87. The firm’s 50 day moving average is $24.12 and its two-hundred day moving average is $23.35.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. On average, sell-side analysts anticipate that Alkami Technology will post -0.41 EPS for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the sale, the chief financial officer now directly owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders have sold 112,734 shares of company stock worth $2,658,864 in the last 90 days. 38.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital International Investors raised its holdings in Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after acquiring an additional 632,061 shares during the period. Vanguard Group Inc. grew its position in shares of Alkami Technology by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Alkami Technology by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after purchasing an additional 217,123 shares during the period. Wasatch Advisors LP purchased a new position in Alkami Technology in the 1st quarter worth approximately $37,178,000. Finally, FMR LLC boosted its stake in Alkami Technology by 1.8% in the 3rd quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after purchasing an additional 21,086 shares during the period. Institutional investors own 54.97% of the company’s stock.

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.