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

StockNews.com upgraded shares of Mitek Systems (NASDAQ:MITK) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Other equities analysts also recently issued research reports about the company. Craig Hallum reduced their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group cut shares of 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. HC Wainwright lowered their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Maxim Group cut their price target on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Mitek Systems Stock Performance

Shares of Mitek Systems stock opened at $9.55 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. The firm has a market cap of $441.25 million, a price-to-earnings ratio of -63.67 and a beta of 1.07. The stock’s 50-day moving average is $8.72 and its 200-day moving average is $10.61. Mitek Systems has a one year low of $7.35 and a one year high of $16.24.

Institutional Trading of Mitek Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Mitek Systems during the 2nd quarter worth about $32,000. nVerses Capital LLC increased its position in Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after buying an additional 1,300 shares during the last quarter. Avior Wealth Management LLC bought a new stake in Mitek Systems in the third quarter valued at approximately $60,000. Intech Investment Management LLC acquired a new stake in shares of Mitek Systems in the third quarter valued at approximately $117,000. Finally, Squarepoint Ops LLC bought a new position in shares of Mitek Systems during the 2nd quarter worth approximately $138,000. 83.64% of the stock is owned by institutional investors.

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.