Weiss Ratings Reaffirms "Sell (D-)" Rating for MeridianLink (NYSE:MLNK)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for MeridianLink (NYSE: MLNK), indicating ongoing concerns about the company's stock performance.
• Despite a recent increase in target price from Barclays to $20.00, several analysts have downgraded their ratings for MeridianLink, suggesting a cautious outlook.
• MeridianLink reported disappointing earnings, missing EPS estimates, although it showed a 7.5% increase in revenue compared to the same quarter last year.

MeridianLink (NYSE:MLNK - Get Free Report)'s stock had its "sell (d-)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

MLNK has been the subject of a number of other reports. Barclays boosted their target price on MeridianLink from $16.00 to $20.00 and gave the company an "underweight" rating in a research note on Tuesday, August 12th. Raymond James Financial cut MeridianLink from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 12th. William Blair cut MeridianLink from an "outperform" rating to a "market perform" rating in a research note on Monday, August 11th. Finally, BTIG Research cut MeridianLink from a "strong-buy" rating to a "neutral" rating in a research note on Monday, August 11th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $20.07.

MeridianLink Trading Up 0.1%

NYSE MLNK opened at $19.97 on Wednesday. The stock has a 50-day simple moving average of $19.35 and a 200 day simple moving average of $17.69. The company has a market capitalization of $1.48 billion, a PE ratio of -68.86 and a beta of 0.92. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 1.18. MeridianLink has a 12 month low of $15.49 and a 12 month high of $25.22.

MeridianLink (NYSE:MLNK - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.13). The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.58 million. MeridianLink had a negative net margin of 6.90% and a negative return on equity of 4.50%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 EPS. Research analysts forecast that MeridianLink will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MLNK. Raymond James Financial Inc. bought a new position in shares of MeridianLink during the second quarter worth about $76,000. Mirae Asset Global Investments Co. Ltd. boosted its position in MeridianLink by 1,606.0% during the first 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 last quarter. Tower Research Capital LLC TRC boosted its position in MeridianLink by 271.6% during the second quarter. Tower Research Capital LLC TRC now owns 9,275 shares of the company's stock valued at $151,000 after purchasing an additional 6,779 shares during the last quarter. New York State Common Retirement Fund boosted its position 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 valued at $172,000 after purchasing an additional 2,600 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in MeridianLink during the first quarter valued at approximately $194,000. 82.65% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.