Barclays Issues Pessimistic Forecast for MeridianLink (NYSE:MLNK) Stock Price

MeridianLink (NYSE:MLNK) had its price objective lowered by analysts at Barclays from $19.00 to $16.00 in a report released on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 3.96% from the company’s previous close.

Several other equities analysts have also recently commented on MLNK. Raymond James reduced their price objective on shares of MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Citigroup reduced their price objective on MeridianLink from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. UBS Group cut their target price on MeridianLink from $25.50 to $20.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of MeridianLink in a research report on Friday, March 7th. Finally, Bank of America cut MeridianLink from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $28.00 to $18.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, MeridianLink has an average rating of “Hold” and a consensus price target of $20.08.

MeridianLink Stock Performance

Shares of MLNK traded up $0.04 during trading hours on Monday, hitting $16.66. The company’s stock had a trading volume of 149,227 shares, compared to its average volume of 278,494. The business has a 50 day simple moving average of $18.60 and a two-hundred day simple moving average of $20.42. MeridianLink has a 52-week low of $15.57 and a 52-week high of $25.33. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -24.87 and a beta of 0.96.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MLNK. Quantbot Technologies LP bought a new position in MeridianLink during the 4th quarter valued at about $65,000. Summit Investment Advisors Inc. grew its position in MeridianLink by 32.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock valued at $71,000 after acquiring an additional 830 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in MeridianLink in the fourth quarter worth $124,000. Millennium Management LLC purchased a new stake in MeridianLink in the fourth quarter worth $201,000. Finally, Woodline Partners LP bought a new stake in shares of MeridianLink during the fourth quarter worth $219,000. Institutional investors 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.