Alkami price target raised to $30 from $27 at Lake Street

Lake Street raised the firm’s price target on Alkami to $30 from $27 and keeps a Buy rating on the shares after the company reported a beat on both the top and bottom lines in Q4 to cap off “an operationally and fundamentally strong 2023.” The firm continues to think competition for deposits has become highly competitive among financial institutions, creating “significant tailwinds for Alkami” and views 2024 as “set up to be another year of strong growth.”