JMP Securities Increases Alkami Technology (NASDAQ:ALKT) Price Target to $35.00

Alkami Technology (NASDAQ:ALKT) had its price objective boosted by JMP Securities from $30.00 to $35.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 2.64% from the company’s current price.

Several other equities analysts have also weighed in on ALKT. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Alkami Technology in a research note on Tuesday, June 25th. Craig Hallum increased their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their price objective on shares of Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.56.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $34.10 on Monday. The stock has a market capitalization of $3.33 billion, a P/E ratio of -56.83 and a beta of 0.47. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology has a 1-year low of $14.93 and a 1-year high of $34.47. The business has a 50-day moving average price of $28.46 and a two-hundred day moving average price of $26.00.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. Equities analysts predict that Alkami Technology will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Alkami Technology news, insider Stephen Bohanon sold 12,450 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $28.66, for a total transaction of $356,817.00. Following the completion of the transaction, the insider now owns 449,552 shares in the company, valued at approximately $12,884,160.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $12,585,824.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Bohanon sold 12,450 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.66, for a total transaction of $356,817.00. Following the transaction, the insider now owns 449,552 shares of the company’s stock, valued at approximately $12,884,160.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,848,472 shares of company stock worth $49,241,550 over the last ninety days. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $43,000. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $85,000. Quest Partners LLC acquired a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $113,000. Acadian Asset Management LLC bought a new position in shares of Alkami Technology in the first quarter valued at $140,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Alkami Technology by 253.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock worth $182,000 after buying an additional 5,445 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

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.