Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $28.57

Alkami Technology, Inc. (NASDAQ:ALKT) has received a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $28.5714.

A number of research firms have issued reports on ALKT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Citizens Jmp reduced their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC lowered their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Barclays dropped their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th.

Alkami Technology Trading Up 3.4%

Shares of ALKT stock opened at $17.06 on Monday. The firm has a market capitalization of $1.81 billion, a P/E ratio of -37.09 and a beta of 0.57. The stock’s fifty day moving average is $19.28 and its two-hundred day moving average is $21.73. Alkami Technology has a fifty-two week low of $14.11 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,518 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $93,254.20. Following the sale, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cassandra Hudson sold 6,869 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the transaction, the chief financial officer owned 286,757 shares of the company’s stock, valued at approximately $4,846,193.30. This represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,739 shares of company stock worth $232,189. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. CWM LLC lifted its stake in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Alkami Technology during the third quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Alkami Technology during the second quarter valued at $44,000. Finally, Smartleaf Asset Management LLC increased its position in Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after purchasing an additional 692 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.