Mitek Systems (NASDAQ:MITK) Given "Buy" Rating at HC Wainwright

Mitek Systems (NASDAQ:MITK - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $19.00 price objective on the software maker's stock. HC Wainwright's price target suggests a potential upside of 41.90% from the company's previous close.

Separately, StockNews.com downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 21st.

Mitek Systems Stock Down 9.7 %

MITK stock traded down $1.44 during trading hours on Tuesday, hitting $13.39. The company's stock had a trading volume of 2,026,087 shares, compared to its average volume of 455,804. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. Mitek Systems has a 12 month low of $8.77 and a 12 month high of $16.24. The stock has a 50 day moving average price of $12.71 and a two-hundred day moving average price of $11.95.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The company 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%. On average, equities research analysts expect that Mitek Systems will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On Mitek Systems

A number of hedge funds have recently made changes to their positions in MITK. Citigroup Inc. boosted its stake in shares of Mitek Systems by 2.9% in the 1st quarter. Citigroup Inc. now owns 255,825 shares of the software maker's stock valued at $3,752,000 after purchasing an additional 7,162 shares during the last quarter. Bank of Montreal Can boosted its stake in Mitek Systems by 1.7% during the 1st quarter. Bank of Montreal Can now owns 412,568 shares of the software maker's stock worth $6,255,000 after acquiring an additional 7,058 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Mitek Systems by 54.5% during the 1st quarter. MetLife Investment Management LLC now owns 23,402 shares of the software maker's stock worth $343,000 after acquiring an additional 8,255 shares during the last quarter. Federated Hermes Inc. boosted its stake in Mitek Systems by 41.5% during the 1st quarter. Federated Hermes Inc. now owns 180,972 shares of the software maker's stock worth $2,655,000 after acquiring an additional 53,033 shares during the last quarter. Finally, Toronado Partners LLC boosted its stake in Mitek Systems by 6.7% during the 1st quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker's stock worth $38,241,000 after acquiring an additional 164,284 shares during the last quarter. 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.