Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report) shares traded up 8.6% during trading on Thursday after Needham & Company LLC raised their price target on the stock from $30.00 to $32.00. Needham & Company LLC currently has a buy rating on the stock. Alkami Technology traded as high as $26.57 and last traded at $26.50. 142,629 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 306,694 shares. The stock had previously closed at $24.40.
Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of Alkami Technology from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. KeyCorp lifted their price target 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. Finally, TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus price target of $26.30.
Read Our Latest Research Report on ALKT
Insider Activity
Institutional Trading of Alkami Technology
Several institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its holdings in shares of Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after purchasing an additional 632,061 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after purchasing an additional 267,336 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Alkami Technology by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock worth $40,900,000 after purchasing an additional 217,123 shares during the period. Wasatch Advisors LP acquired a new stake in shares of Alkami Technology during the first quarter worth $37,178,000. Finally, FMR LLC grew its position in shares of Alkami Technology by 1.8% during the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after acquiring an additional 21,086 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.
Alkami Technology Stock Up 11.4 %
The firm’s 50-day moving average price is $24.10 and its 200 day moving average price is $23.32. The firm has a market cap of $2.65 billion, a P/E ratio of -39.24 and a beta of 0.40. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $71.12 million. As a group, research analysts expect that Alkami Technology, Inc. will post -0.41 earnings per share for the current year.
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.
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