Barclays Raises MeridianLink (NYSE:MLNK) Price Target to $20.00

Key Points

• Barclays has raised the price target for MeridianLink (NYSE: MLNK) from $16.00 to $20.00, indicating a potential upside of 0.81% from its previous close, although the brokerage maintains an "underweight" rating on the stock.
• Several other firms have downgraded MeridianLink recently, with William Blair and Raymond James lowering their ratings to "market perform."
• MeridianLink reported a loss of (0.04) EPS for the last quarter, missing analyst estimates, despite a revenue increase of 7.5% year-over-year.

MeridianLink (NYSE:MLNK - Get Free Report) had its target price boosted by investment analysts at Barclays from $16.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price target points to a potential upside of 0.81% from the company's previous close.

MLNK has been the subject of several other research reports. William Blair downgraded shares of MeridianLink from a "strong-buy" rating to a "market perform" rating in a research report on Monday. Raymond James Financial lowered MeridianLink from an "outperform" rating to a "market perform" rating in a report on Tuesday. BTIG Research cut MeridianLink to a "neutral" rating in a research note on Monday. Finally, Stifel Nicolaus lowered their price target on MeridianLink from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.07.

MeridianLink Stock Up 24.9%

MLNK stock opened at $19.84 on Tuesday. The business has a 50 day moving average of $16.56 and a 200 day moving average of $17.47. The firm has a market cap of $1.53 billion, a PE ratio of -52.14 and a beta of 0.91. MeridianLink has a twelve month low of $15.49 and a twelve month high of $25.33. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.07.

MeridianLink (NYSE:MLNK - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.13). The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.58 million. MeridianLink had a negative return on equity of 5.14% and a negative net margin of 9.11%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, research analysts forecast that MeridianLink will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC grew its position in shares of MeridianLink by 12.2% during the second quarter. Intech Investment Management LLC now owns 16,192 shares of the company's stock worth $263,000 after purchasing an additional 1,766 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in MeridianLink during the 2nd quarter valued at approximately $641,000. Los Angeles Capital Management LLC purchased a new stake in MeridianLink during the 2nd quarter valued at approximately $504,000. Versor Investments LP raised its position in shares of MeridianLink by 40.6% during the second quarter. Versor Investments LP now owns 43,582 shares of the company's stock valued at $707,000 after buying an additional 12,582 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of MeridianLink by 9.0% in the second quarter. Teacher Retirement System of Texas now owns 65,819 shares of the company's stock worth $1,068,000 after buying an additional 5,457 shares in the last quarter. Institutional investors own 82.65% of the company's stock.

About MeridianLink

MeridianLink, Inc, a software and services company, provides software solutions for banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies in the United States. The company offers MeridianLink One, a multi-product platform that can be tailored to meet the needs of customers as they digitally transform their organizations and adapt to changing business and consumer demands; MeridianLink Portal, a Point of Sale system that allows financial institutions to expand existing lending and deposit account; MeridianLink Opening, a cloud-based online account opening and deposit software solution; MeridianLink Consumer, a full loan solution suite to banks and credit unions; and MeridianLink DecisionLender, a loan origination software (LOS) for finance companies.

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