Fintel reports that on July 12, 2023, Goldman Sachs initiated coverage of Alkami Technology (ALKT) with a Buy recommendation.

Analyst Price Forecast Suggests 7.01% Upside

As of July 6, 2023, the average one-year price target for Alkami Technology is 18.65. The forecasts range from a low of 14.14 to a high of $22.05. The average price target represents an increase of 7.01% from its latest reported closing price of 17.43.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alkami Technology is 262MM, an increase of 19.59%. The projected annual non-GAAP EPS is -0.12.

What is the Fund Sentiment?

There are 262 funds or institutions reporting positions in Alkami Technology. This is an increase of 17 owner(s) or 6.94% in the last quarter. Average portfolio weight of all funds dedicated to ALKT is 0.16%, an increase of 12.00%. Total shares owned by institutions increased in the last three months by 3.03% to 60,908K shares. The put/call ratio of ALKT is 0.30, indicating a bullish outlook.

What are Other Shareholders Doing?

 

General Atlantic holds 18,730K shares representing 20.17% ownership of the company. No change in the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 3,976K shares representing 4.28% ownership of the company. In its prior filing, the firm reported owning 2,407K shares, representing an increase of 39.46%. The firm increased its portfolio allocation in ALKT by 33.89% over the last quarter.

Capital International Investors holds 3,976K shares representing 4.28% ownership of the company. In its prior filing, the firm reported owning 2,407K shares, representing an increase of 39.46%. The firm increased its portfolio allocation in ALKT by 37.36% over the last quarter.

Long Path Partners holds 2,615K shares representing 2.82% ownership of the company. In its prior filing, the firm reported owning 2,388K shares, representing an increase of 8.69%. The firm increased its portfolio allocation in ALKT by 94,222.71% over the last quarter.

Massachusetts Financial Services holds 2,210K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 2,515K shares, representing a decrease of 13.79%. The firm decreased its portfolio allocation in ALKT by 88.54% over the last quarter.

Alkami Technology Background Information
(This description is provided by the company.)

Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the U.S. that offers digital banking and fraud protection services to more than 225 banks and credit unions. Alkami’s bold investments in people and technology enable remarkable financial institutions to grow confidently, adapt quickly and build thriving digital communities. Alkami was recognized in 2018, 2019 and 2020 as a Deloitte Technology Fast 500 company in North America.

Additional reading:

• FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
• Alkami Announces First Quarter 2023 Financial Results
• List of Subsidiaries of the Registrant
• Alkami Announces Fourth Quarter 2022 Financial Results
• Sixth Amendment to Bill Pay Service Reseller Agreement by and between Alkami Technology, Inc. and CU Cooperative Systems, Inc., dated as of December 30, 2022.

This article originally appeared on Fintel

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