Alkami price target lowered to $41 from $47 at Lake Street

Lake Street analyst Jacob Stephan lowered the firm’s price target on Alkami (ALKT) to $41 from $47 and keeps a Buy rating on the shares. While the planned retirement of CFO Bryan Hill was “a surprise,” the handoff is “company and shareholder friendly” and the firm has “little doubt Alkami will be able to attract top tier talent,” the analyst tells investors. Following the quarterly report, the firm is lowering its target to reflect the balance sheet changes post close.