Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report)’s stock price traded up 8.6% during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $30.00 to $32.00. Needham & Company LLC currently has a buy rating on the stock. Alkami Technology traded as high as $26.57 and last traded at $26.50. 142,629 shares were traded during mid-day trading, a decline of 53% from the average session volume of 306,694 shares. The stock had previously closed at $24.40.
A number of other equities research analysts have also issued reports on the stock. KeyCorp upped their target price on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Barclays upped their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Finally, TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.30.
View Our Latest Report on Alkami Technology
Insider Activity at Alkami Technology
Institutional Trading of Alkami Technology
A number of hedge funds have recently added to or reduced their stakes in ALKT. Beaird Harris Wealth Management LLC lifted its stake in shares of Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Alkami Technology in the 3rd quarter valued at approximately $39,000. NBC Securities Inc. purchased a new stake in Alkami Technology during the fourth quarter worth $43,000. SG Americas Securities LLC purchased a new stake in Alkami Technology during the third quarter worth $110,000. Finally, Quest Partners LLC purchased a new position in Alkami Technology during the 4th quarter valued at about $113,000. 54.97% of the stock is owned by institutional investors and hedge funds.
Alkami Technology Trading Up 11.4 %
The company has a market cap of $2.65 billion, a price-to-earnings ratio of -39.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The business’s 50-day simple moving average is $24.10 and its 200-day simple moving average is $23.32.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The firm had revenue of $71.37 million during the quarter, compared to the consensus estimate of $71.12 million. Research analysts predict that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.
About Alkami Technology
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.
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