JPMorgan added Alkami (ALKT) to the firm’s Analyst Focus List as a growth idea while keeping an Overweight rating on the name with a $38 price target The firm is “perplexed” by the 8% post-earnings selloff on Friday. The shares sold off on a modest revenue miss, which is a “nonissue,” the analyst tells investors in a research note. JPMorgan says Alkami is growing annual recurring revenue organically by 20%.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALKT:
- Alkami Technology’s 2030 Convertible Notes: A Financial Reporting Challenge
- Alkami price target lowered to $32 from $40 at Needham
- Alkami price target lowered to $34 from $41 at Lake Street
- Alkami price target lowered to $38 from $40 at JPMorgan
- Alkami Technology: Buy Rating Affirmed Amid Strong Fundamentals and Attractive Valuation