Needham & Company LLC Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its target price upped by Needham & Company LLC from $43.00 to $54.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on ALKT. Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities raised their target price on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday. Craig Hallum raised their target price on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays raised their target price on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Alkami Technology Stock Performance

Alkami Technology stock traded up $0.63 during trading on Thursday, hitting $37.24. The company’s stock had a trading volume of 37,065 shares, compared to its average volume of 452,428. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The stock’s fifty day moving average is $33.11 and its 200 day moving average is $30.10. Alkami Technology has a 1-year low of $18.03 and a 1-year high of $41.36.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The company had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. On average, equities analysts forecast that Alkami Technology will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the transaction, the insider now owns 8,419,784 shares of the company’s stock, valued at approximately $262,444,667.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the transaction, the insider now owns 8,419,784 shares of the company’s stock, valued at approximately $262,444,667.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALKT. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock valued at $110,633,000 after purchasing an additional 267,336 shares during the period. Thompson Davis & CO. Inc. bought a new position in Alkami Technology during the 1st quarter worth about $307,000. Lisanti Capital Growth LLC bought a new position in Alkami Technology during the 1st quarter worth about $3,316,000. Swiss National Bank lifted its stake in Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Alkami Technology by 51.1% in the 1st quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock valued at $397,000 after purchasing an additional 5,460 shares during the last quarter. Institutional investors and hedge funds 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.