Mitek Systems - MITK Stock Forecast, Price & News

Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications. The company also provides Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion; and MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice that helps stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Northland Securities reduced their price target on Mitek Systems from $20.00 to $15.00 in a report on Wednesday, May 25th. StockNews.com lowered Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 3rd. TheStreet lowered Mitek Systems from a "b-" rating to a "c+" rating in a research report on Tuesday, May 3rd. Maxim Group restated a "buy" rating and set a $28.00 price target on shares of Mitek Systems in a research note on Friday, April 29th. Finally, HC Wainwright reduced their price objective on Mitek Systems from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, July 29th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $20.67.

Mitek Systems Stock Performance

MITK Stock traded up $0.13 during trading on Friday, hitting $11.63. The company had a trading volume of 463,780 shares, compared to its average volume of 423,512. The firm has a market cap of $515.79 million, a PE ratio of 83.07 and a beta of 0.64. Mitek Systems has a 1-year low of $8.32 and a 1-year high of $23.29. The firm has a 50-day moving average price of $9.65 and a 200-day moving average price of $11.92. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.67.

Mitek Systems (NASDAQ:MITK - Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Mitek Systems had a return on equity of 16.72% and a net margin of 4.59%. The firm had revenue of $39.33 million for the quarter, compared to analysts' expectations of $35.99 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts expect that Mitek Systems will post 0.62 earnings per share for the current year.