Alkami Technology (NASDAQ:ALKT) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Alkami Technology (NASDAQ:ALKT) had its price target reduced by JPMorgan Chase & Co. from $38.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 33.45% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Barclays decreased their price objective on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Zacks Research lowered shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC reduced their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group lowered their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Citizens Jmp restated a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a research report on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Alkami Technology has an average rating of “Hold” and a consensus price target of $32.29.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT traded up $0.21 on Wednesday, hitting $16.49. The stock had a trading volume of 635,104 shares, compared to its average volume of 1,826,167. The firm’s 50 day moving average price is $20.88 and its 200-day moving average price is $22.21. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. Alkami Technology has a twelve month low of $15.73 and a twelve month high of $33.53. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -38.36 and a beta of 0.53.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the transaction, the insider directly owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALKT. CWM LLC boosted its stake in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after purchasing an additional 601 shares during the period. First Horizon Corp acquired a new position in Alkami Technology during the third quarter worth $30,000. Smartleaf Asset Management LLC raised its holdings in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Alkami Technology during the 4th quarter valued at $37,000. 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.