Stephens downgraded Alkami to Equal Weight from Overweight with a price target of $24, up from $22. The analyst cites valuation for the downgrade following the stock’s 56% rally year-to-date. The firm remains constructive on Alkami’s fundamental outlook and industry backdrop, but says its premium valuation could limit outperformance.
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Read More on ALKT:
- Alkami to Present at Barclays Global Technology Conference
- Alkami to Present at Stephens Annual Investment Conference
- Alkami price target raised to $22 from $19 at Barclays
- Alkami price target raised to $25 from $23 at JMP Securities
- Alkami raises FY23 revenue view to $264M-$265M from $261.5M-$264.5M
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