MeridianLink (NYSE:MLNK) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

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

Shares of NYSE MLNK traded up $0.31 during midday trading on Thursday, hitting $14.49. The company’s stock had a trading volume of 93,040 shares, compared to its average volume of 183,722. MeridianLink has a 1 year low of $13.81 and a 1 year high of $29.00. The business’s fifty day simple moving average is $17.94 and its two-hundred day simple moving average is $19.69. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.76.

MLNK has been the topic of several recent analyst reports. Raymond James decreased their price objective on shares of MeridianLink from $35.00 to $27.00 and set an “outperform” rating on the stock in a research 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 on the stock in a report on Friday, March 11th. Credit Suisse Group reduced their target price on shares of MeridianLink from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, March 11th. Zacks Investment Research upgraded shares of MeridianLink from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday. Finally, Barclays dropped their price target on shares of MeridianLink from $28.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 19th. Four research 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 currently has a consensus rating of “Buy” and an average price target of $27.30.

Several large investors have recently modified their holdings of the company. MetLife Investment Management LLC boosted its position in shares of MeridianLink by 159.9% in the 1st quarter. MetLife Investment Management LLC now owns 13,959 shares of the company’s stock worth $253,000 after buying an additional 8,588 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of MeridianLink by 73.1% during the 1st quarter. JPMorgan Chase & Co. now owns 14,601 shares of the company’s stock valued at $263,000 after acquiring an additional 6,164 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of MeridianLink during the 1st quarter valued at about $350,000. Swiss National Bank increased its stake in shares of MeridianLink by 7.7% during the 1st quarter. Swiss National Bank now owns 47,600 shares of the company’s stock valued at $862,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of MeridianLink by 65.6% during the 1st quarter. Bank of New York Mellon Corp now owns 58,420 shares of the company’s stock valued at $1,058,000 after acquiring an additional 23,151 shares during the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.

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.

Featured Articles

Receive News & Ratings for MeridianLink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeridianLink and related companies with MarketBeat.com's FREE daily email newsletter.