UPDATE: JMP Securities Starts Alkami Technology Inc (ALKT) at Market Outperform

JMP Securities analyst Patrick Walravens initiates coverage on Alkami Technology Inc (NASDAQ: ALKT) with a Market Outperform rating and a price target of $50.00.

The analyst comments "We see Alkami as a solid opportunity for long-term, durable growth, and capital appreciation for several reasons, which include: 1) it is pursuing a large and growing addressable market that today is estimated to be ~$7B; 2) an attractive growth profile, as the company grew its revenue 53% and 52% in 2019 and 2020, respectively, and we expect it to grow 29%, 26%, and 25% in 2021, 2022, and 2023, respectively; 3) the Alkami platform is a best-of-breed technology offering that is a multi-tenant, single codebase, continuous delivery platform powered by a cloud infrastructure, which provides the company with a competitive advantage via the speed at which it is able to deliver new innovative features and products; 4) the extensibility of the Alkami Platform, which enables it to be integrated with an ecosystem of partners and third-party service providers; and 5) highly positive client feedback, in our due diligence, as all clients we spoke with indicated their spending with Alkami would trend up over the next 12-18 months."

For an analyst ratings summary and ratings history on Alkami Technology Inc click here. For more ratings news on Alkami Technology Inc click here.

Shares of Alkami Technology Inc closed at $38.65 yesterday.

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