Alkami Technology (NASDAQ:ALKT – Get Rating) had its target price raised by KeyCorp from $16.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 18.03% from the company's previous close.
Alkami Technology Price Performance
Shares of Alkami Technology stock opened at $15.25 on Friday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.40 billion, a PE ratio of -20.61 and a beta of -0.07. The business's 50-day moving average price is $13.63 and its 200-day moving average price is $14.29. Alkami Technology has a 12 month low of $9.23 and a 12 month high of $17.08.
Get Alkami Technology alerts:Alkami Technology (NASDAQ:ALKT – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($0.19) earnings per share for the quarter, meeting the consensus estimate of ($0.19). The company had revenue of $53.41 million during the quarter, compared to analysts' expectations of $52.19 million. Alkami Technology had a negative return on equity of 18.09% and a negative net margin of 35.07%. Sell-side analysts forecast that Alkami Technology will post -0.69 EPS for the current fiscal year.
Insider Activity at Alkami Technology
In other Alkami Technology news, Director Michael D. Hansen sold 73,302 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $12.94, for a total value of $948,527.88. Following the completion of the sale, the director now owns 371,072 shares in the company, valued at approximately $4,801,671.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alkami Technology news, CFO W Bryan Hill bought 40,000 shares of Alkami Technology stock in a transaction on Monday, December 5th. The stock was acquired at an average price of $12.97 per share, with a total value of $518,800.00. Following the acquisition, the chief financial officer now owns 228,507 shares in the company, valued at $2,963,735.79. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Hansen sold 73,302 shares of Alkami Technology stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $12.94, for a total value of $948,527.88. Following the completion of the sale, the director now directly owns 371,072 shares of the company's stock, valued at approximately $4,801,671.68. The disclosure for this sale can be found here. Insiders sold 192,609 shares of company stock worth $2,606,586 in the last ninety days. 40.00% of the stock is owned by company insiders.Institutional Trading of Alkami Technology
A number of institutional investors and hedge funds have recently modified their holdings of ALKT. Long Path Partners Fund LP bought a new stake in shares of Alkami Technology in the 1st quarter worth $25,297,000. Vanguard Group Inc. lifted its position in Alkami Technology by 24.4% during the third quarter. Vanguard Group Inc. now owns 3,552,542 shares of the company's stock valued at $53,466,000 after purchasing an additional 697,148 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Alkami Technology during the second quarter valued at $7,665,000. BlackRock Inc. lifted its position in Alkami Technology by 25.9% during the third quarter. BlackRock Inc. now owns 2,303,355 shares of the company's stock valued at $34,665,000 after purchasing an additional 473,926 shares in the last quarter. Finally, Senator Investment Group LP lifted its position in Alkami Technology by 107.4% during the third quarter. Senator Investment Group LP now owns 792,424 shares of the company's stock valued at $11,926,000 after purchasing an additional 410,424 shares in the last quarter. Institutional investors own 53.52% of the company's stock.
Alkami Technology Company Profile
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Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.
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