MeridianLink (NYSE:MLNK) Price Target Raised to $22.00

MeridianLink (NYSE:MLNK) had its price objective upped by Stifel Nicolaus from $18.00 to $22.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the stock.

MeridianLink Stock Performance

MLNK stock traded up $0.25 during trading hours on Friday, hitting $21.46. 17,158 shares of the stock were exchanged, compared to its average volume of 238,930. The company has a 50-day simple moving average of $21.66 and a two-hundred day simple moving average of $19.71. The firm has a market capitalization of $1.65 billion, a P/E ratio of -39.28 and a beta of 1.02. MeridianLink has a 12 month low of $14.89 and a 12 month high of $25.88. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.90.

MeridianLink (NYSE:MLNK) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The business had revenue of $78.70 million for the quarter, compared to the consensus estimate of $78.08 million. MeridianLink had a negative return on equity of 6.72% and a negative net margin of 13.86%. MeridianLink’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, analysts forecast that MeridianLink will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MeridianLink

Large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. increased its holdings in MeridianLink by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 263,525 shares of the company’s stock valued at $4,928,000 after buying an additional 25,906 shares during the period. Swiss National Bank increased its stake in MeridianLink by 8.2% in the fourth quarter. Swiss National Bank now owns 47,300 shares of the company’s stock valued at $1,172,000 after acquiring an additional 3,600 shares during the last quarter. SG Capital Management LLC acquired a new position in MeridianLink during the first quarter valued at approximately $2,117,000. Vanguard Group Inc. lifted its stake in MeridianLink by 32.8% during the first quarter. Vanguard Group Inc. now owns 2,756,231 shares of the company’s stock worth $51,542,000 after purchasing an additional 680,872 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of MeridianLink by 11.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,147 shares of the company’s stock valued at $2,228,000 after purchasing an additional 12,472 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.