BUZZ-MeridianLink hits over one-month high after Q4 revenue beats expectations

Reuters03-08
BUZZ-MeridianLink hits over one-month high after Q4 revenue beats expectations

** Shares of financial software provider MeridianLink MLNK.N jump as much as 15.5%, hitting their highest since late January

** Stock last up 11.7% at $20.60

** Late Thursday, MLNK reported Q4 revenue above Wall Street expectations

** MLNK also authorized repurchase of up to $129.5 million worth of shares

** Citi Research says new customer wins hitting a two-year high was a bright spot, which included a deal with an $8 billion bank

** Brokerage maintains "neutral" rating as it looks for consistency in an uneven macro environment

** William Blair believes MLNK remains in a solid competitive position, with revenue growth poised to accelerate when the market normalizes

** MLNK stock flat YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment