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.

Mitek Systems Trading Up 1.1 %

Mitek Systems stock opened at $11.63 on Friday. The stock has a 50-day moving average price of $9.65 and a 200 day moving average price of $11.94. The company has a market capitalization of $515.76 million, a price-to-earnings ratio of 83.07 and a beta of 0.64. Mitek Systems has a 52 week low of $8.32 and a 52 week high of $23.29. 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 released its quarterly earnings data on Thursday, July 28th. The software maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Mitek Systems had a net margin of 4.59% and a return on equity of 16.72%. The business had revenue of $39.33 million for the quarter, compared to the consensus estimate of $35.99 million. During the same period in the prior year, the firm earned $0.18 EPS. The business's revenue for the quarter was up 23.8% on a year-over-year basis. Sell-side analysts anticipate that Mitek Systems will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

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