Mitek Systems (NASDAQ: MITK) recently received a number of ratings updates from brokerages and research firms:

  • 8/4/2017 – Mitek Systems was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/3/2017 – Mitek Systems was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters. “
  • 7/28/2017 – Mitek Systems was given a new $12.00 price target on by analysts at Roth Capital. They now have a “buy” rating on the stock.
  • 7/25/2017 – Mitek Systems had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $11.00 price target on the stock.
  • 7/24/2017 – Mitek Systems had its price target raised by analysts at Benchmark Co. from $10.00 to $12.00. They now have a “buy” rating on the stock.
  • 7/19/2017 – Mitek Systems was given a new $11.00 price target on by analysts at Roth Capital. They now have a “buy” rating on the stock.
  • 7/14/2017 – Mitek Systems was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $11.00 price target on the stock. According to Zacks, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters. “
  • 7/12/2017 – Mitek Systems was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/24/2017 – Mitek Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters. “
  • 6/15/2017 – Mitek Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Mitek Systems, Inc. is primarily engaged in the development and sale of software products with particular focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets. They develop, market and support what they believe to be the most accurate Automated Document Recognition (ADR) products commercially available for the recognition of hand printed characters. “

Mitek Systems, Inc. (MITK) opened at 9.65 on Thursday. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $10.75. The firm has a market cap of $323.25 million, a price-to-earnings ratio of 163.56 and a beta of 0.68. The stock has a 50 day moving average price of $9.41 and a 200 day moving average price of $7.72.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Mitek Systems had a return on equity of 10.45% and a net margin of 5.19%. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $11.48 million. During the same quarter in the prior year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, equities analysts expect that Mitek Systems, Inc. will post $0.29 earnings per share for the current fiscal year.

In other news, CFO Russell C. Clark sold 39,400 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $8.25, for a total value of $325,050.00. Following the transaction, the chief financial officer now owns 88,818 shares of the company’s stock, valued at approximately $732,748.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.52% of the stock is currently owned by corporate insiders.

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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