JMP Securities Raises Alkami Technology (NASDAQ:ALKT) Price Target to $41.00

Alkami Technology (NASDAQ:ALKT) had its target price increased by JMP Securities from $38.00 to $41.00 in a report issued on Tuesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities analysts have also issued reports about the company. Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their price objective on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price objective on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $37.60 on Tuesday. The stock has a fifty day moving average price of $33.18 and a two-hundred day moving average price of $30.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market cap of $3.72 billion, a P/E ratio of -80.00 and a beta of 0.46. Alkami Technology has a 1 year low of $18.03 and a 1 year high of $41.36.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. Research analysts forecast that Alkami Technology will post -0.36 EPS for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 55,046 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74. Following the transaction, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 55,046 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Alkami Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after buying an additional 88,390 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alkami Technology by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the last quarter. Driehaus Capital Management LLC increased its position in Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock worth $30,002,000 after buying an additional 120,468 shares during the last quarter. Finally, Millennium Management LLC increased its position 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 last quarter. 54.97% of the stock is 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.