MeridianLink (NYSE:MLNK) Sees Large Volume Increase - Should You Buy?

Key Points

• MeridianLink shares experienced a 15% increase in trading volume, with approximately 250,651 shares traded during mid-day, marking a rise from 217,691 shares in the previous session.
• Wall Street analysts have a mixed outlook on MeridianLink, with a range of ratings including "underweight", "hold", "buy", and "strong buy", leading to an average target price of $19.50.
• The company reported $0.09 EPS for its latest quarter, missing estimates, and a revenue of $81.49 million, reflecting a 4.7% increase year-over-year.

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 250,651 shares traded hands during mid-day trading, an increase of 15% from the previous session's volume of 217,691 shares.The stock last traded at $16.04 and had previously closed at $15.57.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MLNK shares. Barclays decreased their target price on MeridianLink from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Monday, April 14th. BTIG Research raised MeridianLink to a "strong-buy" rating and set a $20.00 price target on the stock in a report on Friday. Finally, Stifel Nicolaus cut 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, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.50.

MeridianLink Trading Down 0.5%

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -41.87 and a beta of 0.91. The firm has a 50-day moving average price of $16.52 and a 200-day moving average price of $17.58. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.07.

MeridianLink (NYSE:MLNK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). MeridianLink had a negative net margin of 9.11% and a negative return on equity of 5.14%. The firm had revenue of $81.49 million for the quarter, compared to analyst estimates of $80.47 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that MeridianLink, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On MeridianLink

A number of hedge funds have recently modified their holdings of MLNK. American Century Companies Inc. grew its holdings in shares of MeridianLink by 39.4% in the 4th quarter. American Century Companies Inc. now owns 39,502 shares of the company's stock worth $816,000 after acquiring an additional 11,163 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MeridianLink in the 4th quarter worth $124,000. Vanguard Group Inc. grew its holdings in shares of MeridianLink by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 3,266,023 shares of the company's stock worth $67,443,000 after acquiring an additional 310,228 shares during the last quarter. Corebridge Financial Inc. grew its holdings in shares of MeridianLink by 12.8% in the 4th quarter. Corebridge Financial Inc. now owns 16,260 shares of the company's stock worth $336,000 after acquiring an additional 1,839 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of MeridianLink by 920.0% in the 4th quarter. JPMorgan Chase & Co. now owns 216,566 shares of the company's stock worth $4,472,000 after acquiring an additional 195,333 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

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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