Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $39.25.

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. began coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 target price on the stock.

Check Out Our Latest Report on ALKT

Insider Activity

In other news, insider Douglas A. Linebarger sold 7,170 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the completion of the sale, the insider now owns 238,172 shares in the company, valued at $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $577,551.40. Following the transaction, the chief financial officer now owns 430,255 shares in the company, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,690 shares of company stock valued at $785,288 over the last ninety days. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its holdings in shares of Alkami Technology by 31.9% during the first quarter. Voya Investment Management LLC now owns 31,307 shares of the company’s stock worth $822,000 after buying an additional 7,565 shares in the last quarter. Rhumbline Advisers raised its stake in Alkami Technology by 17.4% in the 1st quarter. Rhumbline Advisers now owns 88,430 shares of the company’s stock worth $2,321,000 after purchasing an additional 13,078 shares in the last quarter. Strs Ohio acquired a new stake in Alkami Technology in the 1st quarter worth about $593,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alkami Technology by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,491 shares of the company’s stock worth $3,189,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,949 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Performance

ALKT opened at $29.06 on Tuesday. The business’s 50-day simple moving average is $28.20 and its 200 day simple moving average is $30.72. Alkami Technology has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a market capitalization of $2.99 billion, a PE ratio of -76.47 and a beta of 0.58.

About Alkami Technology

(Get Free Report

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.

See Also