by Alkami Technology (NASDAQ:ALKT – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $30.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 20.97% from the stock’s current price.
Several other equities analysts have also weighed in on the stock. JMP Securities increased their price target on shares of Alkami Technology from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. KeyCorp raised their target price on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Finally, Stephens lowered Alkami Technology from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $22.00 to $24.00 in a research report on Thursday, December 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus target price of $26.10.
Read Our Latest Report on ALKT
Alkami Technology Stock Down 0.6 %
Shares of NASDAQ ALKT opened at $24.80 on Thursday. The company has a market capitalization of $2.36 billion, a P/E ratio of -37.58 and a beta of 0.41. The company’s 50 day moving average price is $24.86 and its 200-day moving average price is $21.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.73 and a current ratio of 4.73. Alkami Technology has a 52-week low of $10.93 and a 52-week high of $26.75.
Insider Buying and Selling
In related news, CFO W Bryan Hill sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $23.26, for a total value of $697,800.00. Following the completion of the transaction, the chief financial officer now owns 357,524 shares of the company’s stock, valued at $8,316,008.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alkami Technology news, insider Douglas A. Linebarger sold 100,000 shares of Alkami Technology stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $22.64, for a total value of $2,264,000.00. Following the transaction, the insider now directly owns 202,381 shares of the company’s stock, valued at $4,581,905.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 30,000 shares of Alkami Technology stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $23.26, for a total transaction of $697,800.00. Following the completion of the transaction, the chief financial officer now directly owns 357,524 shares in the company, valued at $8,316,008.24. The disclosure for this sale can be found here. 38.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alkami Technology
Large investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC grew its holdings in shares of Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Alkami Technology in the third quarter valued at $39,000. NBC Securities Inc. purchased a new stake in Alkami Technology in the fourth quarter valued at $43,000. Ensign Peak Advisors Inc boosted its holdings in Alkami Technology by 84.1% in the third quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company’s stock valued at $43,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Alkami Technology in the first quarter valued at $45,000. 52.74% of the stock is owned by hedge funds and other institutional investors.
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.
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