Alkami price target lowered to $15 from $18 at KeyBanc

KeyBanc analyst Josh Beck lowered the firm’s price target on Alkami to $15 from $18 and keeps an Overweight rating on the shares. The firm also trimmed its estimates conservatively, factoring less in-period digital banking user growth, though it believes the company can still be EBITDA positive exiting 2023. KeyBanc thinks the smaller-end of the banking sector are likely to be relatively insulated as a dramatic re-shuffling of accounts from CUs towards the money-center banks seems like an unlikely outcome at this juncture.