Alkami price target raised to $41 from $38 at JMP Securities

JMP Securities raised the firm’s price target on Alkami (ALKT) to $41 from $38 and keeps an Outperform rating on the shares ahead of the October 30 earnings report. Revenue growth is set to accelerate from 25% growth last quarter to the firm’s estimate of 26% growth this quarter, the analyst tells investors in a research note. JMP continues to view Alkami as an excellent opportunity for long-term capital appreciation for several reasons, as the company is executing well and benefiting from a number of demand drivers, including the need for banking digitalization, underlying seat growth, and millennials, and Alkami offers the best-of-breed digital banking platform with a multi-tenant, single codebase, cloud architecture, and continues to drive improvements in its platform, the firm says.