Mitek Systems (NASDAQ:MITK) Stock Rating Upgraded by StockNews.com

Mitek Systems (NASDAQ:MITK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

MITK has been the subject of a number of other research reports. HC Wainwright dropped their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Craig Hallum reduced their price target on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Maxim Group decreased their price target on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Mitek Systems currently has a consensus rating of “Moderate Buy” and an average target price of $12.13.

Mitek Systems Price Performance

MITK stock opened at $9.48 on Monday. The stock’s 50 day moving average is $8.73 and its two-hundred day moving average is $10.58. Mitek Systems has a 52-week low of $7.35 and a 52-week high of $16.24. The company has a market capitalization of $438.01 million, a PE ratio of -63.20 and a beta of 1.07. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68.

Institutional Investors Weigh In On Mitek Systems

Institutional investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in Mitek Systems in the second quarter valued at approximately $32,000. nVerses Capital LLC acquired a new position in Mitek Systems during the 2nd quarter valued at approximately $57,000. Avior Wealth Management LLC bought a new position in Mitek Systems during the 3rd quarter worth $60,000. Squarepoint Ops LLC acquired a new stake in Mitek Systems in the second quarter worth $138,000. Finally, Intech Investment Management LLC bought a new stake in Mitek Systems in the third quarter valued at $117,000. 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.