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MeridianLink, Inc. (NYSE:MLNK) does well in the four-M framework for software investing, which includes market, competitive moat, management strength and margin potential, according to BofA Securities.
The MeridianLink Analyst: Koji Ikeda initiated coverage of MeridianLink with a Buy rating and a price target of $35.
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The MeridianLink Thesis: The “commentary from our due diligence calls was very positive on MeridianLink’s value proposition,” Koji said in the note.
The analyst elaborated on the four Ms:
- Market: The market size is estimated at $7.8 billion and the company is poised to “disrupt and take share, which should enable the business to drive low to mid-teens organic growth in the future,” he wrote.
- Moat: The business “has a good competitive Moat” driven by a high-quality technology platform, high customer satisfaction levels, a wide range of products, a large installed base to cross-sell and upsell, and a successful merger and acquisition strategy.
- Management Strength: “We believe Management is viewed as good operators, which is a good starting point to build on as a newly public company,” the analyst mentioned.
- Margin Potential: Koji added that the company’s business “has the potential to drive sustainable 40%+ adjusted EBITDA margins.”
MLNK Price Action: Shares of MeridianLink had risen by 1.69 % to $25.91 at the time of publication Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.