Alkami Technology (NASDAQ:ALKT) Hits New 52-Week High at $28.25

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.25 and last traded at $28.25, with a volume of 150 shares trading hands. The stock had previously closed at $27.33.

Analyst Ratings Changes

Several brokerages have weighed in on ALKT. KeyCorp lifted their price objective on Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Craig Hallum upped their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Needham & Company LLC boosted their price target on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.90.

Alkami Technology Trading Down 1.3 %

The business’s fifty day moving average is $24.15 and its 200-day moving average is $23.49. The stock has a market capitalization of $2.63 billion, a PE ratio of -44.80 and a beta of 0.40. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. During the same period in the prior year, the business posted ($0.16) EPS. The business’s revenue was up 26.8% on a year-over-year basis. As a group, analysts anticipate that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the business’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 completion of the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at approximately $12,158,258.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the sale, the insider now owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,734 shares of company stock worth $2,658,864. 38.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. Capital International Investors boosted its stake 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 valued at $113,488,000 after purchasing an additional 632,061 shares during the period. Vanguard Group Inc. increased its holdings in Alkami Technology by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock worth $110,633,000 after buying an additional 267,336 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after purchasing an additional 217,123 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Alkami Technology in the 1st quarter worth approximately $37,178,000. Finally, FMR LLC raised its position in shares of Alkami Technology by 1.8% in 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 period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Company Profile

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.