Alkami Technology (NASDAQ:ALKT) Sees Large Volume Increase – Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) saw strong trading volume on Tuesday . 1,389,210 shares were traded during trading, an increase of 127% from the previous session’s volume of 611,862 shares.The stock last traded at $23.56 and had previously closed at $23.87.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Thursday. Barclays lowered their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Alkami Technology Trading Up 2.3 %

The business’s 50-day moving average is $33.02 and its two-hundred day moving average is $34.75. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.54 billion, a PE ratio of -52.90 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,767 shares of company stock worth $7,981,934 in the last quarter. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alkami Technology in the 4th quarter worth approximately $4,384,000. Jefferies Financial Group Inc. acquired a new stake in shares of Alkami Technology in the fourth quarter valued at $2,704,000. Mackenzie Financial Corp grew its holdings in Alkami Technology by 244.9% during the fourth quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock worth $972,000 after acquiring an additional 18,823 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Alkami Technology by 18.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock worth $3,036,000 after purchasing an additional 12,952 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Alkami Technology during the fourth quarter valued at approximately $96,000. 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.