Alkami Technology (NASDAQ:ALKT) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Monday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Other research analysts also recently issued reports about the company. William Blair reaffirmed an outperform rating on shares of Alkami Technology in a research note on Thursday, February 29th. TheStreet upgraded Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. Barclays boosted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. KeyCorp raised their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the company an overweight rating in a research note on Monday, January 8th. Finally, Needham & Company LLC reissued a buy rating and set a $30.00 target price on shares of Alkami Technology in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of Moderate Buy and an average target price of $26.10.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $24.04 on Monday. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06. Alkami Technology has a twelve month low of $10.93 and a twelve month high of $26.75. The company has a fifty day moving average of $24.40 and a 200-day moving average of $22.85. The firm has a market capitalization of $2.34 billion, a P/E ratio of -36.42 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. The firm had revenue of $71.37 million during the quarter, compared to the consensus estimate of $71.12 million. As a group, sell-side analysts anticipate that Alkami Technology will post -0.41 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold a total of 112,734 shares of company stock valued at $2,658,864 over the last three months. 38.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of ALKT. Beaird Harris Wealth Management LLC lifted its stake in Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Credit Suisse AG raised its position in shares of Alkami Technology by 7.0% in the second quarter. Credit Suisse AG now owns 12,515 shares of the company’s stock worth $174,000 after buying an additional 818 shares in the last quarter. Swiss National Bank boosted its stake in Alkami Technology by 1.1% during the third quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after buying an additional 1,000 shares during the period. Lazard Asset Management LLC grew its position in Alkami Technology by 18.3% during the third quarter. Lazard Asset Management LLC now owns 6,762 shares of the company’s stock worth $123,000 after buying an additional 1,045 shares in the last quarter. Finally, NBC Securities Inc. increased its stake in Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after acquiring an additional 1,102 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.