MeridianLink Shares Surpass Analyst Target Price: Key Insights
In recent trading, shares of MeridianLink Inc (Symbol: MLNK) have surpassed the average analyst 12-month target price of $21.08, currently trading at $21.49 per share. When a stock hits an analyst’s target, the analyst typically has two options: either downgrade based on valuation or adjust the target price higher. Analyst reactions may also hinge on recent business developments which could justify an upward price adjustment.
Within the Zacks coverage universe, six analysts contribute to the average price target for MeridianLink Inc. However, this average reflects a collective assessment rather than a single expert opinion. Analysts present a range of targets, with one setting the price at $18.00, while another predicts a high of $24.00. The standard deviation among these targets is $2.416, indicating variability in their forecasts.
The rationale for examining the average price target is to harness the “wisdom of crowds,” combining inputs from multiple analysts to form a more comprehensive view. With MLNK now trading above the average target price, investors are prompted to reevaluate their positions. They must decide: is $21.08 a step towards even higher targets, or has the valuation become extended enough to consider selling some shares? Below is a table detailing the latest ratings from analysts covering MeridianLink Inc:
| Recent MLNK Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 1 | 1 | 2 | 2 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 4 | 4 | 4 | 4 |
| Sell ratings: | 1 | 1 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 3.0 | 3.0 | 2.63 | 2.63 |
The average rating in the table ranges from 1 (Strong Buy) to 5 (Strong Sell). This analysis utilized data from Zacks Investment Research via Quandl.com. For further insights, access the latest Zacks research report on MLNK — available at no cost.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
