Alkami Technology (NASDAQ:ALKT) PT Raised to $31.00 at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its price objective hoisted by investment analysts at Craig Hallum from $30.00 to $31.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 14.81% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Needham & Company LLC upped their target price on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Barclays upped their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Alkami Technology Stock Performance

NASDAQ:ALKT traded up $2.60 on Thursday, hitting $27.00. The company’s stock had a trading volume of 455,005 shares, compared to its average volume of 310,090. Alkami Technology has a one year low of $10.93 and a one year high of $27.87. The firm has a market capitalization of $2.63 billion, a P/E ratio of -41.14 and a beta of 0.40. The stock has a fifty day moving average of $24.10 and a two-hundred day moving average of $23.32. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $71.37 million for the quarter, compared to the consensus estimate of $71.12 million. Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. Research analysts predict that Alkami Technology will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the sale, the insider now owns 262,749 shares of the company’s stock, valued at $6,198,248.91. 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, 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 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 $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 33,593 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now owns 262,749 shares in the company, valued at approximately $6,198,248.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,734 shares of company stock valued at $2,658,864. 38.00% of the stock is currently owned by insiders.

Institutional Trading of Alkami Technology

Large investors have recently made changes to their positions in the company. Beaird Harris Wealth Management LLC raised its stake in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the period. Swiss National Bank lifted its holdings in shares of Alkami Technology by 1.1% in the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company’s stock worth $1,674,000 after purchasing an additional 1,000 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after purchasing an additional 1,102 shares in the last quarter. Penbrook Management LLC grew its position in Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock valued at $1,502,000 after purchasing an additional 1,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Alkami Technology by 9.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock valued at $322,000 after purchasing an additional 1,494 shares in the last quarter. 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.