Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $33.70, but opened at $30.52. Alkami Technology shares last traded at $30.24, with a volume of 611,150 shares.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on ALKT. Craig Hallum lifted their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities boosted their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Lake Street Capital raised their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.89.
Read Our Latest Analysis on Alkami Technology
Alkami Technology Stock Performance
The firm’s 50 day simple moving average is $29.73 and its 200-day simple moving average is $26.71. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -51.92 and a beta of 0.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. Alkami Technology’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Analysts expect that Alkami Technology, Inc. will post -0.38 EPS for the current year.
Insider Transactions at Alkami Technology
In related news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alkami Technology news, insider Stephen Bohanon sold 22,171 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $26.88, for a total value of $595,956.48. Following the transaction, the insider now directly owns 407,940 shares of the company’s stock, valued at approximately $10,965,427.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.80, for a total value of $2,880,000.00. Following the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Insiders sold 234,621 shares of company stock valued at $6,404,773 over the last three months. 38.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Alkami Technology
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new position in shares of Alkami Technology during the 4th quarter worth $43,000. Perkins Coie Trust Co bought a new stake in Alkami Technology in the second quarter worth $85,000. nVerses Capital LLC bought a new position in Alkami Technology during the second quarter valued at about $88,000. Quest Partners LLC acquired a new stake in shares of Alkami Technology in the fourth quarter worth about $113,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Alkami Technology in the first quarter worth about $140,000. Institutional investors own 54.97% of the company’s stock.
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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