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

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $39.25.

Several equities analysts recently issued reports on the company. Lake Street Capital reduced their price target on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reduced their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Alkami Technology in a research report on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 price objective on the stock. Barclays cut their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction 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 transaction, the insider owned 238,172 shares in the company, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction 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 completion of the sale, the chief financial officer directly owned 430,255 shares of the company’s stock, valued at approximately $12,202,031.80. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Perkins Coie Trust Co grew its holdings in shares of Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. Versant Capital Management Inc bought a new stake in Alkami Technology during the first quarter valued at about $36,000. Amalgamated Bank grew its holdings in Alkami Technology by 50.8% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after purchasing an additional 704 shares during the period. Summit Securities Group LLC bought a new stake in Alkami Technology during the first quarter valued at about $59,000. Finally, NBC Securities Inc. grew its holdings in Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock valued at $60,000 after purchasing an additional 2,291 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

ALKT opened at $27.59 on Friday. The stock’s 50 day simple moving average is $29.42 and its 200 day simple moving average is $29.73. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.75 and a quick ratio of 2.75. Alkami Technology has a 1 year low of $21.70 and a 1 year high of $42.29. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -72.61 and a beta of 0.59.

Alkami Technology Company Profile

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.