Alkami Technology (NASDAQ:ALKT) Sets New 1-Year High at $28.25

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALKT shares. Needham & Company LLC lifted their target price on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. Barclays boosted their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Alkami Technology in a research report on Monday, April 15th. Finally, William Blair restated an “outperform” rating on shares of Alkami Technology in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.90.

Alkami Technology Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -44.80 and a beta of 0.40. The firm has a fifty day simple moving average of $24.15 and a 200 day simple moving average of $23.49.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. Alkami Technology’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business earned ($0.16) earnings per share. On average, sell-side analysts expect that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $10,009,625.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the completion of the transaction, the insider now owns 434,823 shares in the company, valued at approximately $10,009,625.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $1,197,627.99. Following the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders have sold a total of 112,734 shares of company stock valued at $2,658,864 in the last 90 days. 38.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP acquired a new position in Alkami Technology in the 1st quarter valued at about $37,178,000. Scalar Gauge Management LLC bought a new stake in shares of Alkami Technology during the fourth quarter worth $20,694,000. The Manufacturers Life Insurance Company increased its holdings in Alkami Technology by 3,727.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company’s stock worth $20,719,000 after purchasing an additional 832,059 shares in the last quarter. Capital International Investors raised its holdings in Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after buying an additional 632,061 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Alkami Technology during the third quarter valued at $5,484,000. Institutional investors own 54.97% of the company’s stock.

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.