Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of “Hold” from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $26.6667.

ALKT has been the subject of a number of recent analyst reports. Citizens Jmp cut their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC dropped their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Barclays decreased their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT traded down $0.47 during midday trading on Friday, hitting $15.73. The company’s stock had a trading volume of 110,747 shares, compared to its average volume of 2,038,694. The company has a market cap of $1.67 billion, a P/E ratio of -34.05 and a beta of 0.57. The business’s 50 day simple moving average is $17.79 and its 200 day simple moving average is $21.01. Alkami Technology has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 500,000 shares of Alkami Technology stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $18.33 per share, for a total transaction of $9,165,000.00. Following the acquisition, the director directly owned 15,379,451 shares in the company, valued at $281,905,336.83. This represents a 3.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 5,518 shares of Alkami Technology stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $93,254.20. Following the completion of the transaction, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. This trade represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

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