MeridianLink (NYSE:MLNK) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

MeridianLink (NYSE:MLNKGet Rating) released its earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.13, MarketWatch Earnings reports. The company had revenue of $72.75 million during the quarter, compared to analyst estimates of $68.79 million. MeridianLink had a negative net margin of 3.73% and a negative return on equity of 3.35%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. MeridianLink updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

NYSE MLNK opened at $16.57 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.76. MeridianLink has a one year low of $13.81 and a one year high of $29.00. The stock has a 50 day moving average price of $17.84 and a 200-day moving average price of $19.60.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its position in shares of MeridianLink by 81.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,759 shares of the company’s stock valued at $32,000 after acquiring an additional 789 shares during the last quarter. Northern Trust Corp boosted its position in shares of MeridianLink by 127.0% during the 1st quarter. Northern Trust Corp now owns 287,719 shares of the company’s stock valued at $5,208,000 after acquiring an additional 160,991 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MeridianLink by 26.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 119,003 shares of the company’s stock valued at $2,154,000 after acquiring an additional 24,644 shares during the last quarter. American International Group Inc. boosted its position in shares of MeridianLink by 67.4% during the 1st quarter. American International Group Inc. now owns 11,258 shares of the company’s stock valued at $204,000 after acquiring an additional 4,531 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of MeridianLink during the 1st quarter valued at approximately $182,000. Hedge funds and other institutional investors own 70.83% of the company’s stock.

Several equities research analysts recently issued reports on MLNK shares. Credit Suisse Group reduced their target price on shares of MeridianLink from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, March 11th. BTIG Research reduced their target price on shares of MeridianLink from $39.00 to $34.00 and set a “buy” rating for the company in a report on Friday, March 11th. Barclays reduced their target price on shares of MeridianLink from $28.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, January 19th. Raymond James reduced their target price on shares of MeridianLink from $35.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, March 11th. Finally, Zacks Investment Research raised shares of MeridianLink from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $27.30.

About MeridianLink (Get Rating)

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 Consumer, a consumer lending and account opening platform; MeridianLink Opening, an online account opening software that unifies deposit account opening and funding for various channels and products; and MeridianLink DecisionLender, a loan origination software (LOS) for finance companies.

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