Alkami Technology (NASDAQ:ALKT)’s stock rating reaffirmed by Needham & Company LLC

Alkami Technology (NASDAQ:ALKT)’s stock rating reaffirmed by Needham & Company LLC

Alkami Technology (NASDAQ:ALKT – Get Free Report)Shares of the company had their “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently 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 boosted their price objective 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. boosted 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 upped 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. Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and upped their target price for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Finally, Stephens downgraded Alkami Technology from an “overweight” rating to an “equal weight” rating and raised their target price 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 given a buy rating to the company. Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $26.10, according to MarketBeat.com.

Read our latest ALKT report

Alkami Technology shares fell 0.6%

Shares of NASDAQ ALKT opened at $24.80 on Thursday. The company has a market cap of $2.36 billion, a P/E ratio of -37.58 and a beta of 0.41. The company’s 50-day moving average is $24.86 and its 200-day moving average is $21.31. The company has a debt-to-equity ratio of 0.29, a quick earnings 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 and Exchange Commission, which is available at 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 and Exchange Commission, which is available on the SEC’s website. Also, CFO W Bryan Hill sold 30,000 shares of Alkami Technology stock in a transaction on Wednesday, December 6th. The shares were 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. Disclosure of this sale can be found here. 38.00% of shares are currently owned by insiders.

Institutional investors are weighing in on Alkami’s technology

Large investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC boosted 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Alkami Technology during the third quarter valued at $39,000. NBC Securities Inc. bought 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 buying an additional 1,320 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought 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 a free report)

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company’s Alkami platform enables financial institutions to onboard and engage new users, accelerate revenue and improve operational efficiency, supported by a proprietary, cloud-based, multi-client architecture.

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