Alkami Technology (NASDAQ:ALKT) Upgraded by Stephens to “Overweight” Rating

Stephens upgraded shares of Alkami Technology (NASDAQ:ALKT) from an equal weight rating to an overweight rating in a research report released on Thursday, Marketbeat reports. The brokerage currently has $40.00 price target on the stock.

Several other equities analysts have also weighed in on ALKT. JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group reduced their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Barclays reduced their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $25.25 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.72 and a beta of 0.49. The company’s 50-day moving average is $32.79 and its two-hundred day moving average is $34.68. Alkami Technology has a 1-year low of $22.65 and a 1-year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted 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). The firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Analysts forecast that Alkami Technology will post -0.34 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,767 shares of company stock valued at $7,981,934. Insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bosun Asset Management LLC grew its position in shares of Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock valued at $849,000 after buying an additional 313 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology in the 4th quarter valued at $34,000. Finally, Summit Investment Advisors Inc. grew its position in shares of Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after buying an additional 1,238 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.