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

Alkami Technology (NASDAQ:ALKT) had its target price increased by Needham & Company LLC from $30.00 to $32.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

ALKT has been the topic of a number of other reports. The Goldman Sachs Group downgraded Alkami Technology from a buy rating to a neutral rating and upped their target price for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Barclays raised their price objective on Alkami Technology from $26.00 to $27.00 and gave the stock an equal weight rating in a research note on Thursday, February 29th. TheStreet upgraded Alkami Technology from a d rating to a c- rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, KeyCorp upped their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $26.90.

Alkami Technology Stock Up 2.4 %

Alkami Technology stock traded up $0.64 during midday trading on Thursday, reaching $27.33. The company’s stock had a trading volume of 622,085 shares, compared to its average volume of 321,106. Alkami Technology has a 52-week low of $11.23 and a 52-week high of $27.87. The stock has a market capitalization of $2.66 billion, a P/E 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. The stock’s 50-day simple moving average is $24.12 and its 200-day simple moving average is $23.35.

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

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the transaction, the insider now directly owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,734 shares of company stock worth $2,658,864. 38.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $43,000. Beaird Harris Wealth Management LLC boosted its holdings in Alkami Technology by 31.7% in 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 last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Alkami Technology during the 3rd quarter worth approximately $39,000. Quest Partners LLC acquired a new position in shares of Alkami Technology during the fourth quarter valued at approximately $113,000. Finally, SG Americas Securities LLC purchased a new position in shares of Alkami Technology in the third quarter valued at approximately $110,000. 54.97% of the stock is owned by hedge funds and other 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.