MeridianLink (NYSE:MLNK) Price Target Raised to $28.00

MeridianLink (NYSE:MLNK - Get Free Report) had its price target hoisted by Raymond James from $26.00 to $28.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' price target points to a potential upside of 16.23% from the company's previous close.

Other analysts also recently issued reports about the company. Stifel Nicolaus raised their target price on MeridianLink from $18.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Barclays upped their target price on MeridianLink from $18.00 to $20.00 and gave the stock an "underweight" rating in a research report on Friday, August 9th. Finally, UBS Group lifted their price target on shares of MeridianLink from $17.00 to $18.00 and gave the company a "sell" rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, MeridianLink has a consensus rating of "Hold" and a consensus price target of $22.00.

MeridianLink Stock Down 1.4 %

NYSE MLNK traded down $0.33 during trading hours on Friday, hitting $24.09. 610,772 shares of the company's stock were exchanged, compared to its average volume of 343,108. MeridianLink has a 1-year low of $16.49 and a 1-year high of $25.88. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $22.15 and a 200 day simple moving average of $21.07.

MeridianLink (NYSE:MLNK - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $78.70 million during the quarter, compared to the consensus estimate of $78.08 million. MeridianLink had a negative net margin of 15.16% and a negative return on equity of 7.62%. The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. As a group, equities research analysts expect that MeridianLink will post -0.27 earnings per share for the current year.

Insider Activity at MeridianLink

In related news, major shareholder Thoma Bravo Ugp, Llc sold 650,000 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $21.05, for a total transaction of $13,682,500.00. Following the transaction, the insider now directly owns 28,932,388 shares of the company's stock, valued at $609,026,767.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.30% of the stock is currently owned by insiders.

Institutional Trading of MeridianLink

A number of institutional investors and hedge funds have recently modified their holdings of MLNK. Vanguard Group Inc. grew its stake in MeridianLink by 32.8% in the 1st quarter. Vanguard Group Inc. now owns 2,756,231 shares of the company's stock valued at $51,542,000 after purchasing an additional 680,872 shares during the period. Keenan Capital LLC grew its position in MeridianLink by 9.6% during the first quarter. Keenan Capital LLC now owns 2,565,269 shares of the company's stock valued at $47,971,000 after buying an additional 225,000 shares during the period. WCM Investment Management LLC increased its holdings in MeridianLink by 1.0% during the third quarter. WCM Investment Management LLC now owns 1,159,590 shares of the company's stock worth $24,340,000 after buying an additional 12,002 shares during the last quarter. Dimensional Fund Advisors LP raised its position in MeridianLink by 23.3% in the second quarter. Dimensional Fund Advisors LP now owns 797,074 shares of the company's stock worth $17,026,000 after acquiring an additional 150,712 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in MeridianLink by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 263,525 shares of the company's stock valued at $4,928,000 after acquiring an additional 25,906 shares during the last quarter. 82.65% of the stock is owned by hedge funds and other 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.