MeridianLink (NYSE:MLNK) Upgraded by Zacks Investment Research to “Buy”

MeridianLink (NYSE:MLNKGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $17.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.70% from the company’s previous close.

According to Zacks, “MeridianLink Inc. is a cloud-based technology company which enables banks, credit unions, mortgage lenders, specialty lending providers and consumer reporting agencies to streamline loan decision making, loan origination, and customer collection workflows. MeridianLink Inc. is based in Costa Mesa, Calif. “

Other analysts have also issued research reports about the company. BTIG Research cut their price objective on MeridianLink from $39.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, March 11th. Credit Suisse Group cut their price objective on MeridianLink from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, March 11th. Raymond James cut their price objective on MeridianLink from $35.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, March 11th. Finally, Barclays cut their price objective on MeridianLink from $28.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, MeridianLink presently has a consensus rating of “Buy” and a consensus target price of $27.30.

NYSE:MLNK opened at $15.22 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.37 and a current ratio of 3.37. The stock’s fifty day moving average price is $18.02. MeridianLink has a 52 week low of $14.86 and a 52 week high of $29.00.

MeridianLink (NYSE:MLNKGet Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). MeridianLink had a negative return on equity of 3.35% and a negative net margin of 3.73%. The firm had revenue of $64.00 million for the quarter, compared to analyst estimates of $60.21 million. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that MeridianLink will post 0.2 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC purchased a new position in MeridianLink in the first quarter valued at $36,000. Swiss National Bank grew its holdings in shares of MeridianLink by 7.7% during the first quarter. Swiss National Bank now owns 47,600 shares of the company’s stock worth $862,000 after purchasing an additional 3,400 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of MeridianLink by 111.7% during the first quarter. New York State Common Retirement Fund now owns 17,456 shares of the company’s stock worth $316,000 after purchasing an additional 9,212 shares during the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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Analyst Recommendations for MeridianLink (NYSE:MLNK)

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