Patrick Walravens, an analyst from JMP Securities, maintained the Buy rating on Alkami Technology (ALKT – Research Report). The associated price target remains the same with $30.00.
Patrick Walravens has given his Buy rating due to a combination of factors that suggest a strong potential for Alkami Technology’s growth and market performance. After attending Alkami’s Co:lab user conference and interacting with customers and partners, Walravens reported an overall positive sentiment, with a majority of data points favoring the company’s prospects. He noted the stickiness of Alkami’s offerings, as evidenced by current customers’ intentions to renew their services, which indicates a robust and loyal client base. The observed commitment to enhancing banking functionalities further bolsters confidence in Alkami’s competitive edge.
Furthermore, Walravens’s recommendation reflects his belief in Alkami’s strategic positioning and leadership. Alkami’s digital banking platform, characterized by a multi-tenant, single codebase cloud architecture, is successfully taking market share from legacy providers. With an addressable market of approximately $11 billion and strong leadership under CEO Alex Shootman and CFO Bryan Hill, Alkami is well-poised for long-term capital appreciation. Walravens’s financial forecasts for Alkami remain consistent with consensus estimates, suggesting sustained revenue growth and scalability in margins, which underpin his $30 price target and reinforce the Buy rating.
According to TipRanks, Walravens is an analyst with an average return of -8.9% and a 35.94% success rate. Walravens covers the Technology sector, focusing on stocks such as Salesforce, Adobe, and NICE.
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Alkami Technology (ALKT) Company Description:
Alkami Technology Inc is a cloud-based digital banking platform. It provides financial institutions a complete digital banking solution ready to facilitate both retail and business user onboarding, engagement, and account servicing.
