Barclays raised the firm’s price target on Alkami to $22 from $19 and keeps an Equal Weight rating on the shares. The company reported ARR in line with the firm’s estimates, driven by 23% user growth with more deals implementing than typical for a Q3, Barclays said in a research note on Friday. This is more timing-driven in the firm’s view, which is why it expects lower ARR growth and normalized backlog numbers in Q4.
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Read More on ALKT:
- Alkami price target raised to $25 from $23 at JMP Securities
- Alkami raises FY23 revenue view to $264M-$265M from $261.5M-$264.5M
- Alkami sees Q4 revenue $70.5M-$71.5M, consensus $70.54M
- Alkami reports Q3 EPS (16c), consensus (1c)
- Alkami Announces Third Quarter 2023 Financial Results
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