Alkami price target lowered to $23 from $28 at Citizens

Citizens lowered the firm’s price target on Alkami (ALKT) to $23 from $28 and keeps an Outperform rating on the shares. The company reported mixed Q1 results and guidance, but the firm continues to like Alkami as while it may be going through some growing pains, the business is following in the footsteps of other successful vertical software companies in expanding its digital banking platform through a combination of M&A and organic product development, the analyst tells investors in a research note.