Alkami Technology (NASDAQ:ALKT – Get Free Report) was downgraded by stock analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday, Briefing.com reports. They currently have a $24.00 price target on the stock, up from their prior price target of $22.00. Stephens’ target price suggests a potential upside of 7.58% from the company’s current price.
ALKT has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Needham & Company LLC raised their price target on Alkami Technology from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. JMP Securities lifted their price objective on Alkami Technology from $23.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, November 3rd. William Blair reissued an “outperform” rating on shares of Alkami Technology in a research note on Thursday, November 2nd. Finally, Citigroup raised their target price on shares of Alkami Technology from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.90.
Alkami Technology Price Performance
Shares of ALKT opened at $22.31 on Thursday. The stock has a market cap of $2.13 billion, a P/E ratio of -38.47 and a beta of 0.37. Alkami Technology has a 1 year low of $10.93 and a 1 year high of $24.34. The stock’s 50-day moving average price is $19.92 and its two-hundred day moving average price is $17.57. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 0.29.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $67.70 million for the quarter, compared to analyst estimates of $67.47 million. Alkami Technology had a negative net margin of 22.13% and a negative return on equity of 18.55%. On average, equities analysts predict that Alkami Technology will post -0.58 earnings per share for the current year.
Insider Transactions at Alkami Technology
In related news, insider Douglas A. Linebarger sold 60,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $20.97, for a total transaction of $1,258,200.00. Following the sale, the insider now owns 207,242 shares in the company, valued at $4,345,864.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Douglas A. Linebarger sold 100,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $22.64, for a total value of $2,264,000.00. Following the completion of the transaction, the insider now directly owns 202,381 shares of the company’s stock, valued at $4,581,905.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas A. Linebarger sold 60,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $20.97, for a total transaction of $1,258,200.00. Following the transaction, the insider now owns 207,242 shares in the company, valued at $4,345,864.74. The disclosure for this sale can be found here. Insiders sold a total of 185,900 shares of company stock worth $4,069,069 in the last three months. Insiders own 38.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG raised its holdings in shares of Alkami Technology by 15.0% in the 3rd quarter. Deutsche Bank AG now owns 19,849 shares of the company’s stock valued at $362,000 after purchasing an additional 2,587 shares during the period. Beaird Harris Wealth Management LLC increased its position in Alkami Technology by 31.7% during the third 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. Bullseye Asset Management LLC increased its position in Alkami Technology by 80.4% during the third quarter. Bullseye Asset Management LLC now owns 64,988 shares of the company’s stock worth $1,184,000 after buying an additional 28,962 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Alkami Technology by 31.7% in the third quarter. The Manufacturers Life Insurance Company now owns 22,320 shares of the company’s stock valued at $407,000 after buying an additional 5,374 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Alkami Technology by 7.2% in the third quarter. Legal & General Group Plc now owns 37,038 shares of the company’s stock valued at $675,000 after buying an additional 2,472 shares during the last quarter. Institutional investors own 52.74% of the company’s stock.
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.