JMP Securities Reaffirms Market Outperform Rating for Alkami Technology (NASDAQ:ALKT)

JMP Securities reaffirmed their market outperform rating on shares of Alkami Technology (NASDAQ:ALKT) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Alkami Technology from $27.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, February 29th. TheStreet upgraded Alkami Technology from a d rating to a c- rating in a report on Thursday, February 29th. William Blair reiterated an outperform rating on shares of Alkami Technology in a report on Thursday, February 29th. The Goldman Sachs Group cut Alkami Technology from a buy rating to a neutral rating and increased their target price for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Finally, Needham & Company LLC reiterated a buy rating and set a $30.00 target price on shares of Alkami Technology in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $26.10.

Alkami Technology Stock Performance

ALKT opened at $23.84 on Monday. The stock has a market cap of $2.32 billion, a P/E ratio of -36.12 and a beta of 0.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The stock’s 50 day simple moving average is $24.42 and its 200 day simple moving average is $22.84. Alkami Technology has a 1-year low of $10.93 and a 1-year high of $26.75.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $71.37 million for the quarter, compared to analysts’ expectations of $71.12 million. Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. As a group, equities analysts anticipate that Alkami Technology will post -0.41 EPS for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total value of $792,458.87. Following the sale, the insider now owns 262,749 shares in the company, valued at approximately $6,198,248.91. The disclosure for this sale can be found here. Insiders have sold 112,734 shares of company stock worth $2,658,864 over the last quarter. 25.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALKT. Long Path Partners Fund LP purchased a new position in shares of Alkami Technology in the 1st quarter worth $25,297,000. Scalar Gauge Management LLC purchased a new position in shares of Alkami Technology in the 4th quarter worth $20,694,000. The Manufacturers Life Insurance Company raised its position in shares of 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 buying an additional 832,059 shares during the period. Vanguard Group Inc. raised its position in shares of Alkami Technology by 24.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,552,542 shares of the company’s stock worth $53,466,000 after buying an additional 697,148 shares during the period. Finally, Capital International Investors raised its position in shares of Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after buying an additional 632,061 shares during the period. 54.97% of the stock is owned by hedge funds and other 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.