Mitek Systems (NASDAQ:MITK – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.
A number of other equities analysts also recently weighed in on the stock. Craig Hallum lifted their target price on shares of Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a report on Tuesday.
Check Out Our Latest Stock Report on Mitek Systems
Mitek Systems Stock Down 1.6 %
Mitek Systems (NASDAQ:MITK – Get Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The company had revenue of $37.66 million for the quarter. On average, analysts anticipate that Mitek Systems will post 0.82 EPS for the current year.
Institutional Trading of Mitek Systems
Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in Mitek Systems by 88.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock worth $29,000 after acquiring an additional 1,475 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Mitek Systems during the 4th quarter worth about $40,000. Quarry LP grew its stake in shares of Mitek Systems by 536.0% in the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after buying an additional 3,993 shares during the period. Royal Bank of Canada raised its stake in Mitek Systems by 66.4% during the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock worth $46,000 after buying an additional 1,977 shares during the period. Finally, Ensign Peak Advisors Inc bought a new position in Mitek Systems in the third quarter worth approximately $59,000. Institutional investors and hedge funds own 83.64% of the company’s stock.
Mitek Systems Company Profile
Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.
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