Craig Hallum Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective boosted by Craig Hallum from $38.00 to $45.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on ALKT. Needham & Company LLC boosted their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays boosted their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Lake Street Capital raised their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Stock Performance

ALKT stock opened at $37.60 on Thursday. 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 has a 1 year low of $18.03 and a 1 year high of $41.36. The company has a market cap of $3.72 billion, a P/E ratio of -80.00 and a beta of 0.43. The stock’s fifty day moving average price is $33.18 and its 200-day moving average price is $30.28.

Insider Activity

In related news, CEO Alex Shootman sold 37,758 shares of the 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 completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the sale, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alex Shootman sold 37,758 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 over the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Large investors have recently added to or reduced their stakes in the company. Trust Point Inc. bought a new position in Alkami Technology during the third quarter valued at $1,029,000. Lisanti Capital Growth LLC bought a new stake in shares of Alkami Technology in the 1st quarter valued at approximately $3,316,000. Driehaus Capital Management LLC boosted its holdings in shares of Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after purchasing an additional 392,483 shares during the period. Millennium Management LLC boosted its stake in Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after buying an additional 284,977 shares during the period. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Alkami Technology by 24.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after acquiring an additional 40,949 shares during the last quarter. 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.