MLNK - MeridianLink falls after BTIG downgrades on constrained lending volumes
2023-08-02 08:53:50 ET
MeridianLink ( NYSE: MLNK ) fell ~6% Wednesday premarket after BTIG downgraded the software and services company on constrained lending volumes.
The agency downgraded the stock to Neutral from Buy.
The move comes after the company reported a miss in Q2 earnings, and the management lowered its outlook for 2023.
BTIG said the slowing volumes will take time to recover.
The rating aligns with the ratings by sell-side analysts and Seeking Alpha's Quant Rating system.
The sell-side analysts give the stock a Hold rating, with a price target of $19.63. The stock is currently trading at $22.23.
The Quant Rating system also gives the stock a Hold rating, while SA analysts give the stock a Buy rating.
More on MLNK :
- MeridianLink: AI, Successful M&A Could Imply Undervaluation
- MeridianLink Is Undervalued Considering The Potential Of Its Marketplace
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MeridianLink falls after BTIG downgrades on constrained lending volumes