Mitek Systems Given New $5.50 Price Target at Compass Point (MITK)
Equities research analysts at Compass Point lifted their target price on shares of Mitek Systems (NASDAQ:MITK) from $4.00 to $5.50 in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Compass Point’s price target would indicate a potential upside of 3.97% from the company’s current price.
Shares of Mitek Systems (NASDAQ:MITK) traded down 3.82% during mid-day trading on Thursday, hitting $5.29. 420,168 shares of the company’s stock traded hands. Mitek Systems has a 1-year low of $2.05 and a 1-year high of $7.71. The stock has a 50-day moving average of $5.44 and a 200-day moving average of $5.27. The company’s market cap is $160.5 million.
Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, July 25th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.02. The company had revenue of $3.88 million for the quarter, compared to the consensus estimate of $3.10 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. On average, analysts predict that Mitek Systems will post $-0.31 earnings per share for the current fiscal year.
Mitek Systems, Inc (NASDAQ:MITK) is engaged in the development, sale and service of software solutions related to mobile imaging applications and intelligent recognition software.
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