Alkami Technology (NASDAQ:ALKT) Given New $30.00 Price Target at Barclays

Alkami Technology (NASDAQ:ALKT) had its price target lowered by investment analysts at Barclays from $35.00 to $30.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 20.24% from the stock’s current price.

Several other research analysts have also commented on the company. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. The Goldman Sachs Group cut their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

Alkami Technology Stock Performance

ALKT opened at $24.95 on Monday. Alkami Technology has a twelve month low of $21.70 and a twelve month high of $42.29. The firm has a market capitalization of $2.57 billion, a PE ratio of -53.09 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $27.77 and its 200 day moving average price is $33.67.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. As a group, sell-side analysts expect that Alkami Technology will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the fourth quarter worth $34,000. Perkins Coie Trust Co increased its holdings in Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the period. Versant Capital Management Inc acquired a new stake in Alkami Technology in the 1st quarter valued at about $36,000. Quarry LP purchased a new position in shares of Alkami Technology in the 4th quarter valued at about $61,000. Finally, NBC Securities Inc. grew its position in shares of Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock worth $60,000 after buying an additional 2,291 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.