MeridianLink Downgraded Due to High Mortgage Exposure, Shares Fall

  • Barclays analyst Saket Kalia downgraded MeridianLink MLNK from Equal-Weight to Underweight and lowered the price target from $17 to $14.
  • The analyst cites the deteriorating mortgage backdrop for the downgrade. 
  • Around 20% of MeridianLink's business comes from mortgages, and expectations for this market continue to decline.
  • Also Read: Equifax Expands Partnership With MeridianLink To Enhance Digital Lending Solutions
  • Kalia previewed 17 on-cycle reporting names in security, design, and vertical SaaS. 
  • The analyst thinks CyberArk Software Ltd CYBRGen Digital Inc GEN, and Varonis Systems, Inc VRNS scored with favorable setups in security, while PTC Inc PTC have promising setup in applications. 
  • Kalia was below the Street on Tyler Technologies, Inc TYL on this SaaS transition and below on Check Point Software Technologies Ltd CHKP billings on tough comps.
  • Price Action: MLNK shares traded lower by 4.60% at $14.31 on the last check Wednesday.
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