Alkami Technology (NASDAQ:ALKT) Price Target Raised to $18.00 at KeyCorp
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Alkami Technology (NASDAQ:ALKT - Get Rating) had its price objective increased by KeyCorp from $16.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price objective suggests a potential upside of 21.54% from the stock's current price.
Alkami Technology Trading Up 0.1 %
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ALKT stock opened at $14.81 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. Alkami Technology has a 12-month low of $9.23 and a 12-month high of $17.08. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -20.01 and a beta of -0.07. The business's 50-day moving average is $13.61 and its 200 day moving average is $14.28.
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, hitting the consensus estimate of ($0.19). The business had revenue of $53.41 million for 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%. On average, sell-side analysts anticipate that Alkami Technology will post -0.69 EPS for the current fiscal year.
Insider Activity
In other news, CFO W Bryan Hill purchased 40,000 shares of Alkami Technology stock in a transaction dated Monday, December 5th. The shares were purchased at an average price of $12.97 per share, with a total value of $518,800.00. Following the transaction, the chief financial officer now owns 228,507 shares in the company, valued at $2,963,735.79. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Alkami Technology news, Director Michael D. Hansen sold 73,302 shares of the business's 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 sale, the director now owns 371,072 shares of the company's stock, valued at $4,801,671.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill bought 40,000 shares of the business's stock in a transaction on Monday, December 5th. The stock was purchased at an average cost of $12.97 per share, for a total transaction of $518,800.00. Following the transaction, the chief financial officer now owns 228,507 shares of the company's stock, valued at $2,963,735.79. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 192,609 shares of company stock valued at $2,606,586. 40.00% of the stock is currently owned by company insiders.
Institutional Trading of Alkami Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG raised its position in Alkami Technology by 7.0% in the second quarter. Credit Suisse AG now owns 12,515 shares of the company's stock valued at $174,000 after purchasing an additional 818 shares during the period. M&T Bank Corp raised its position in Alkami Technology by 1.7% in the third quarter. M&T Bank Corp now owns 70,192 shares of the company's stock valued at $1,056,000 after purchasing an additional 1,196 shares during the period. Ensign Peak Advisors Inc raised its position in Alkami Technology by 84.1% in the third quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company's stock valued at $43,000 after purchasing an additional 1,320 shares during the period. Legal & General Group Plc raised its position in Alkami Technology by 20.5% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the company's stock valued at $118,000 after purchasing an additional 1,453 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alkami Technology by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,382 shares of the company's stock worth $907,000 after acquiring an additional 1,835 shares during the period. Hedge funds and other institutional investors own 53.52% of the company's stock.
Alkami Technology Company Profile
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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