Needham Thinks Alkami Technology’s Stock is Going to Recover
In a report released today, Mayank Tandon from Needham initiated coverage with a Buy rating on Alkami Technology (ALKT) and a price target of $50.00. The company’s shares closed last Friday at $38.65, close to its 52-week low of $37.52.
According to TipRanks.com, Tandon is a 5-star analyst with an average return of 23.1% and a 64.9% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Duck Creek Technologies, and Bottomline Technologies.
Alkami Technology has an analyst consensus of Moderate Buy, with a price target consensus of $46.00.
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Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALKT in relation to earlier this year.
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Alkami Technology Inc is a cloud-based digital banking platform. It provides financial institutions a complete digital banking solution ready to facilitate both retail and business user onboarding, engagement, and account servicing.