Alkami Technology (NASDAQ:ALKT) Reaches New 1-Year High – Still a Buy?

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $39.85 and last traded at $39.85, with a volume of 1213 shares trading hands. The stock had previously closed at $38.18.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALKT. Barclays raised their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, JMP Securities upped their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Alkami Technology Stock Up 2.3 %

The business’s fifty day simple moving average is $32.32 and its two-hundred day simple moving average is $29.55. The company has a market cap of $3.81 billion, a PE ratio of -63.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative return on equity of 13.43% 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 business earned ($0.17) EPS. On average, analysts predict that Alkami Technology, Inc. will post -0.36 earnings per share for the current year.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the sale, the director now owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the sale, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,648,416 shares of company stock worth $113,920,758 over the last three months. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after purchasing an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Alkami Technology in the first quarter worth about $37,178,000. Driehaus Capital Management LLC grew its stake in Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after acquiring an additional 120,468 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.