Craig Hallum Boosts Mitek Systems (NASDAQ:MITK) Price Target to $19.00

Mitek Systems (NASDAQ:MITK) had its target price increased by Craig Hallum from $17.00 to $19.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other analysts also recently commented on MITK. HC Wainwright reissued a buy rating and issued a $19.00 price objective on shares of Mitek Systems in a research note on Tuesday. StockNews.com downgraded Mitek Systems from a buy rating to a hold rating in a research note on Thursday, March 21st.

Mitek Systems Trading Down 1.6 %

Shares of Mitek Systems stock opened at $11.98 on Tuesday. The business’s fifty day moving average price is $12.69 and its two-hundred day moving average price is $11.95. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. Mitek Systems has a 1-year low of $8.77 and a 1-year high of $16.24.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share for the quarter. The firm had revenue of $37.66 million for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. As a group, equities research analysts anticipate that Mitek Systems will post 0.82 EPS for the current fiscal year.

Institutional Trading of Mitek Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Impax Asset Management Group plc raised its stake in shares of Mitek Systems by 41.1% in the 4th quarter. Impax Asset Management Group plc now owns 720,349 shares of the software maker’s stock worth $9,393,000 after buying an additional 210,000 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Mitek Systems by 4,261.7% during the fourth quarter. North Star Investment Management Corp. now owns 116,675 shares of the software maker’s stock worth $1,521,000 after purchasing an additional 114,000 shares during the period. B. Riley Asset Management LLC raised its position in shares of Mitek Systems by 28.9% during the third quarter. B. Riley Asset Management LLC now owns 718,981 shares of the software maker’s stock worth $7,707,000 after purchasing an additional 161,246 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Mitek Systems by 77.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 429,271 shares of the software maker’s stock worth $4,602,000 after purchasing an additional 186,746 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Mitek Systems by 427.5% during the third quarter. Assenagon Asset Management S.A. now owns 235,033 shares of the software maker’s stock worth $2,520,000 after purchasing an additional 190,481 shares during the period. Institutional investors 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.