What happened Shares of Alkami Technology (NASDAQ: ALKT) fell 30.2% in May 2021, according to data from S&P Global Market Intelligence. The provider of cloud-based digital banking tools posted its first earnings report as a public company. Investors were not overly impressed. So what Alkami's first-quarter sales rose 43.5% year over year to $33.3 million. The company recorded a net loss of $2 per share, up from a $2.31 loss per share in the year-ago period. The client list added up to 10 million names, a 28% annual increase. Revenue per registered user rose by 9% to $13.40 per quarter. This report covered the first three calendar months of 2021, predating Alkami's initial public offering on April 14. The IPO added approximately $180 million to Alkami's balance sheet. Looking ahead, Alkami expects second-quarter revenue of roughly $34.5 million and an unadjusted net loss in the neighborhood of $12.7 million. Full-year sales should land near $146 million, 30% above the 2020 fiscal year's result. Image source: Getty Images. Wall Street analysts have not yet started to publish estimates for Alkami's quarterly and annual results. However, it's fair to say that the Street was shocked by the high-growth fintech company's modest full-year growth targets. Projected 30% top-line growth for the full fiscal year looks soft next to the first quarter's 43.5% reading and last year's 52% revenue jump. Alkami's stock was changing hands at $36 per share on the eve of the first-quarter report. Three market days later, share prices had dropped 24.9% lower. Now what This company has been around since 2009 and is an established leader in cloud-based platforms upon which banks and other financial institutions can build their own digital banking apps. It just took Alkami a while to join the public market. Fintech stocks can be volatile but Alkami's sharp plunge strikes me as an overreaction. The next few quarters will show how well the company performs in comparison to management's guidance and analysts' estimates. Color me surprised if the humble revenue target doesn't turn out to be overly conservative. This stock chart will continue to be unpredictable for a while but Alkami looks like an interesting idea for the long term at these lower prices. 10 stocks we like better than Alkami Technology, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Alkami Technology, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source