MeridianLink (NYSE:MLNK) Stock Price Down 4.9% - What's Next?

Shares of MeridianLink, Inc. (NYSE:MLNK - Get Free Report) fell 4.9% during mid-day trading on Thursday . The stock traded as low as $16.89 and last traded at $16.89. 266,489 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 294,118 shares. The stock had previously closed at $17.76.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays decreased their price target on MeridianLink from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Monday, April 14th. Citigroup decreased their target price on shares of MeridianLink from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. William Blair reissued an "outperform" rating on shares of MeridianLink in a report on Friday, March 7th. Stifel Nicolaus cut 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, 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 research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $19.42.

MeridianLink Trading Down 3.3%

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -24.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. The company has a 50 day moving average price of $16.72 and a two-hundred day moving average price of $18.89.

MeridianLink (NYSE:MLNK - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). The company had revenue of $81.49 million for the quarter, compared to analyst estimates of $80.47 million. MeridianLink had a negative return on equity of 9.57% and a negative net margin of 16.57%. The business's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, research analysts forecast 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 made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in MeridianLink in the 4th quarter valued at about $65,000. Summit Investment Advisors Inc. lifted its position in shares of MeridianLink by 32.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $71,000 after purchasing an additional 830 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MeridianLink during the fourth quarter worth $124,000. Finally, New York State Common Retirement Fund raised its holdings in MeridianLink by 39.1% during the first quarter. New York State Common Retirement Fund now owns 9,257 shares of the company's stock worth $172,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds 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.