MeridianLink (NYSE:MLNK) Sees Strong Trading Volume - Should You Buy?

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) shares saw strong trading volume on Wednesday . 913,286 shares changed hands during trading, an increase of 219% from the previous session's volume of 286,588 shares.The stock last traded at $16.81 and had previously closed at $16.60.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays cut their target price on shares of MeridianLink from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Monday, April 14th. UBS Group decreased their price objective on shares of MeridianLink from $25.50 to $20.50 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Citigroup decreased their price objective on shares of MeridianLink from $24.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of MeridianLink from $20.00 to $18.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. Finally, Raymond James decreased their price target on shares of MeridianLink from $28.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.42.

MeridianLink Price Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. The stock's fifty day simple moving average is $16.75 and its 200-day simple moving average is $19.07. The company has a market capitalization of $1.30 billion, a P/E ratio of -25.10 and a beta of 0.93.

MeridianLink (NYSE:MLNK - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). The business had revenue of $81.49 million for the quarter, compared to the consensus estimate of $80.47 million. MeridianLink had a negative return on equity of 9.57% and a negative net margin of 16.57%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. On average, equities analysts forecast that MeridianLink, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of MeridianLink

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of MeridianLink in the 4th quarter valued at $65,000. Summit Investment Advisors Inc. raised its holdings in shares of MeridianLink by 32.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock valued at $71,000 after purchasing an additional 830 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MeridianLink by 1,606.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,521 shares of the company's stock valued at $84,000 after purchasing an additional 4,256 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of MeridianLink in the 4th quarter valued at about $124,000. Finally, New York State Common Retirement Fund raised its holdings in shares of MeridianLink by 39.1% in the 1st quarter. New York State Common Retirement Fund now owns 9,257 shares of the company's stock valued at $172,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 82.65% of the company's stock.

MeridianLink Company Profile

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.