Needham Adds Alkami Technology to Conviction List, Citing Growth Prospects

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Needham recently added Alkami Technology ($NASDAQ:ALKT) to its Conviction List, citing its growth prospects. Alkami Technology is an online and mobile banking software company based in Plano, Texas. Over the past 10 years, Alkami Technology has developed a robust portfolio of services and products that enable financial institutions of all sizes to deliver a modern, digital banking experience to their customers. Needham’s inclusion of Alkami Technology on its Conviction List is based on the company’s potential to realize substantial growth in the near future.

Needham analysts project that Alkami Technology will experience a surge in demand from small and medium-sized banks and credit unions due to their need for digital banking solutions. They also foresee the company’s partnership with RTP, an online payments platform, providing a major boost to Alkami Technology’s offerings. As such, Needham believes that Alkami Technology is well-positioned to capitalize on the increased demand for digital banking solutions and that it will be a strong performer in the coming years.

Share Price

On Friday, ALKAMI TECHNOLOGY stock opened at $23.0 and closed at $23.1, up by 1.1% from the last closing price of $22.8. This move came after Needham & Company LLC added the company to its “Conviction List” of stocks it believes have the potential for substantial growth. Needham noted that ALKAMI TECHNOLOGY’s platform is the largest and most comprehensive digital banking solution available on the market today. Due to its exceptional features, the platform is gaining traction with both banks and credit unions across the country, encouraging Needham to add the company to its list of stocks to watch.

Needham also noted Alkami provides a unique opportunity to capitalize on what it sees as a fast-growing industry. The analysts at Needham are confident that ALKAMI TECHNOLOGY will continue to deliver impressive returns in the near future as the company’s platform continues to gain traction. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Alkami Technology. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Alkami Technology. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Alkami Technology. More…

Key Ratios Snapshot

Some of the financial key ratios for Alkami Technology are shown below. More…

Analysis

GoodWhale has conducted an analysis of ALKAMI TECHNOLOGY‘s financials and found that the company has an intermediate health score of 6/10, considering its cashflows and debt. This score indicates that ALKAMI TECHNOLOGY might be able to safely ride out any crisis without the risk of bankruptcy. In terms of performance metrics, ALKAMI TECHNOLOGY is strong in asset and growth, but weak in dividend and profitability. Based on this, GoodWhale has classified ALKAMI TECHNOLOGY as a ‘cheetah’, a type of company we conclude that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this overview of ALKAMI TECHNOLOGY, investors seeking a higher-risk, higher-reward type of investment may be interested in this company. However, investors with a preference for more stable investments may want to look elsewhere. More…

Peers

Its competitors include MoneyLion Inc, AppTech Payments Corp, and Temenos AG. Alkami Technology Inc has a strong market presence and offers a comprehensive suite of digital banking solutions. Its products are well-received by customers and its services are highly competitive.

– MoneyLion Inc ($NYSE:ML)

MoneyLion Inc is a financial technology company that offers a mobile app and a platform that provides its users with access to financial products and services. The company has a market cap of 252.47M as of 2022 and a return on equity of -14.08%. MoneyLion’s products and services include a mobile app, a personal finance management tool, a credit builder product, and a lending product. The company was founded in 2013 and is headquartered in New York, NY.

– AppTech Payments Corp ($NASDAQ:APCX)

AppTech Payments Corp is a provider of payment processing solutions. The company offers a range of services, including online payment processing, mobile payment processing, and point-of-sale payment processing. AppTech Payments Corp has a market cap of 13.55M as of 2022, a Return on Equity of -88.5%. The company’s primary focus is on small and medium-sized businesses, providing them with the tools and services they need to streamline their payment processing. AppTech Payments Corp is headquartered in Atlanta, Georgia.

– Temenos AG ($LTS:0QOA)

Temenos AG is a leading provider of banking software. The company has a market cap of 4.07B as of 2022 and a return on equity of 27.62%. Temenos is headquartered in Geneva, Switzerland and has a strong global presence with over 3,000 customers in over 150 countries. The company’s software helps banks drive digital transformation and deliver superior customer experiences.

Summary

Investors have been taking note of Alkami Technology, with Needham recently adding the company to its Conviction List due to growth prospects. Alkami Technology specializes in digital banking solutions for financial institutions, offering cloud-native core banking systems to streamline digital banking services. The company currently boasts a wide range of clients, including credit unions, community banks, and regional banks.

Analysts anticipate that Alkami Technology’s strong growth potential, driven by the trend of digital banking, will continue to attract investors looking for strong returns. With its cloud-based technology and modern banking solutions, Alkami is seen as well-positioned to capitalize on the shift toward digital banking.