Mitek Systems (NASDAQ:MITK – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.
A number of other equities research analysts also recently weighed in on MITK. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research report on Tuesday. Craig Hallum boosted their target price on Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday.
Check Out Our Latest Report on MITK
Mitek Systems Stock Down 1.6 %
Mitek Systems (NASDAQ:MITK – Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The business had revenue of $37.66 million during the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%. Sell-side analysts expect that Mitek Systems will post 0.82 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Mitek Systems
A number of large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position 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 valued at $29,000 after buying an additional 1,475 shares during the period. Point72 Middle East FZE purchased a new stake in Mitek Systems during the 4th quarter valued at about $40,000. Quarry LP grew its position in Mitek Systems by 536.0% during the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock worth $45,000 after acquiring an additional 3,993 shares during the last quarter. Royal Bank of Canada increased its stake in Mitek Systems by 66.4% in the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock worth $46,000 after purchasing an additional 1,977 shares during the period. Finally, Covestor Ltd lifted its position in Mitek Systems by 32.3% in the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after purchasing an additional 1,492 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
About Mitek Systems
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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