Alkami Technology, Inc. (NASDAQ:ALKT – Get Free Report ) shares fell sharply in pre-market trading on Friday. The stock opened at $30.52 after previously closing at $33.70. Alkami Technology's stock was last traded at $30.24 with trading volume of 611,150 shares.
Analyst upgrades and downgrades
Several brokerage firms have recently issued reports on ALKT. Craig Hulme increased their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities increased their price target on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. 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 research report on Thursday, August 1st. Needham & Company LLC increased their price target on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Goldman Sachs Group boosted their price objective on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1. Three analysts have rated the stock with a hold rating, and seven have given a buy rating. Based on MarketBeat data, the stock has a consensus rating of “moderate buy” and an average target price of $33.89.
Read our latest analysis on Alkami Technology
Alkami Technology's stock price performance
The company's 50-day simple moving average is $29.73 and its 200-day simple moving average is $26.71.The company's market capitalization is $3.04 billion, its price-to-earnings ratio is -51.92 and its beta is 0.47.The company's debt-to-equity ratio is 0.06, its quick ratio is 3.92 and its current ratio is 3.92.
Alkami Technology (NASDAQ:ALKT – get free report ) announced its quarterly earnings on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.02. The company's revenue for the quarter was $82.16 million, beating the consensus estimate of $81.32 million. Alkami Technology had a return on equity of -13.47% and a net margin of -17.47%. Alkami Technology's quarterly revenue grew 24.9% year over year. Earnings per share for the same period last year were ($0.17). Analysts expect Alkami Technology, Inc. to post -0.38 EPS for the current fiscal year.
Insider Trading at Alkami Technology
In related news, CFO W Brian Hill sold 100,000 shares of the company's stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction value of $2,880,000.00. With this transaction, the CFO now directly owns 505,877 shares of the company's stock, valued at $14,569,257.60. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed on the SEC's website. In other Alkami Technology news, insider Stephen Bohannon sold 22,171 shares of the company's stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $26.88, for a total transaction value of $595,956.48. Following this transaction, the insider now directly owns 407,940 shares of the company's stock, valued at approximately $10,965,427.20. The sale was disclosed in a legal filing with the SEC, which can be accessed on the SEC's website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total value of $2,880,000.00. Following the sale, the CFO now owns 505,877 shares of the company's stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Insiders have sold 234,621 shares of the company's stock in the last three months for $6,404,773. 38.00% of the stock is owned by company insiders.
Hedge funds enter Alkami Technology
Several hedge funds and other institutional investors have recently added to or reduced their holdings in the business. NBC Securities Inc. acquired a new stake in Alkami Technology in the fourth quarter valued at $43,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology in the second quarter valued at $85,000. nVerses Capital LLC acquired a new stake in Alkami Technology in the second quarter valued at approximately $88,000. Quest Partners LLC acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $113,000. Finally, Acadian Asset Management LLC acquired a new stake in Alkami Technology in the first quarter valued at approximately $140,000. Institutional investors now own 54.97% of the company's shares.
About Alkami Technology
(Get your free report)
Alkami Technology, Inc provides cloud-based digital banking solutions in the U.S. The company's Alkami platform enables financial institutions to onboard and engage new users, accelerate revenue, and increase operational efficiency with support from a unique cloud-based, multi-tenant architecture.
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