The Goldman Sachs Group Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price target hoisted by equities researchers at The Goldman Sachs Group from $34.00 to $39.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 3.04% from the stock’s previous close.

Several other equities research analysts also recently commented on ALKT. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Needham & Company LLC increased their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities increased their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology Trading Up 3.4 %

NASDAQ ALKT traded up $1.24 during trading hours on Friday, hitting $37.85. The company’s stock had a trading volume of 394,782 shares, compared to its average volume of 454,115. The stock has a fifty day moving average of $33.11 and a 200 day moving average of $30.10. Alkami Technology has a twelve month low of $18.03 and a twelve month high of $41.36. The firm has a market capitalization of $3.75 billion, a P/E ratio of -80.81 and a beta of 0.46. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the sale, the insider now owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 over the last quarter. 38.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the 2nd quarter valued at approximately $40,000. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology during the 2nd quarter valued at approximately $85,000. Finally, nVerses Capital LLC bought a new stake in shares of Alkami Technology during the 2nd quarter valued at approximately $88,000. 54.97% of the stock is owned by institutional investors.

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.