Alkami Technology (NASDAQ:ALKT) Stock Price Up 7% – Time to Buy?

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price traded up 7% during mid-day trading on Friday . The stock traded as high as $16.59 and last traded at $16.7210. 1,080,659 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,043,048 shares. The stock had previously closed at $15.63.

Analyst Ratings Changes

Several research firms have weighed in on ALKT. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Barclays reduced their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC cut their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.57.

Alkami Technology Trading Up 5.9%

The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.74 billion, a P/E ratio of -35.97 and a beta of 0.53. The business has a 50 day moving average of $20.04 and a 200-day moving average of $21.95.

Insider Activity

In related news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares in the company, valued at $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.10% of the stock is owned by corporate insiders.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. General Atlantic L.P. boosted its position in shares of Alkami Technology by 24.3% during the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after buying an additional 2,346,162 shares during the period. Vanguard Group Inc. lifted its stake in Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock worth $95,010,000 after acquiring an additional 1,023,297 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after acquiring an additional 1,394,617 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after purchasing an additional 430,632 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.