Craig Hallum Increases Alkami Technology (NASDAQ:ALKT) Price Target to $31.00

Alkami Technology (NASDAQ:ALKT) had its price objective hoisted by analysts at Craig Hallum from $30.00 to $31.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 14.81% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Needham & Company LLC upped their target price on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. William Blair restated an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th. Finally, KeyCorp lifted their price objective on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $26.90.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded up $2.60 during midday trading on Thursday, reaching $27.00. The company’s stock had a trading volume of 455,005 shares, compared to its average volume of 310,090. Alkami Technology has a one year low of $10.93 and a one year high of $27.87. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -41.14 and a beta of 0.40. The company has a 50 day moving average price of $24.10 and a 200 day moving average price of $23.32. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Alkami Technology had a negative net margin of 23.76% and a negative return on equity of 17.00%. The firm had revenue of $71.37 million for the quarter, compared to analyst estimates of $71.12 million. On average, equities research analysts expect that Alkami Technology will post -0.41 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the sale, the chief financial officer now directly owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders sold 112,734 shares of company stock valued at $2,658,864 in the last quarter. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Thompson Davis & CO. Inc. acquired a new position in Alkami Technology during the first quarter worth $307,000. Arlington Capital Management Inc. boosted its stake in shares of Alkami Technology by 29.5% during the 1st quarter. Arlington Capital Management Inc. now owns 68,410 shares of the company’s stock worth $1,681,000 after acquiring an additional 15,575 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of Alkami Technology during the 1st quarter valued at about $37,178,000. Contravisory Investment Management Inc. bought a new position in shares of Alkami Technology in the 1st quarter valued at approximately $248,000. Finally, NBC Securities Inc. raised its stake in shares of Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after acquiring an additional 1,102 shares in the last quarter. 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.