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Alkami technology (NASDAQ:ALKT) stocks diverged down 2.2% in Tuesday morning trading after Goldman Sachs downgraded the digital banking solutions provider to Neutral from Buy on the view that the stock's risk-reward has moderated following its recent bull run.
In the past In six months, ALKT is up about 48%, compared to the S&P 500's ~6% gain.
In a note to clients, Goldman noted that ALKT trades at ~7.5 times estimated EV-to-sales ratio for 2024, the highest level in two years.
However, fundamentally the company is a “high-quality banking technology asset,” the note said, “with a sustainable growth opportunity of more than 25% in the medium term.”
Goldman's Neutral rating disagrees with the SA Quant system's rating of Strong Buy and the average sell-side analyst rating of Buy.
