Alkami price target lowered to $34 from $41 at Lake Street

Lake Street lowered the firm’s price target on Alkami (ALKT) to $34 from $41 and keeps a Buy rating on the shares. Alkami fell short of Q3 revenue expectations due to shifting go-lives but “nicely beat” adjusted EBITDA expectations, the analyst tells investors. Alkami’s shifting Q3 add on go-lives “have created an attractive buying opportunity for investors on what was otherwise a solid quarter fundamentally,” adds the analyst, who views this “growth stock as a name to own on weakness.”