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Mitek Systems (NASDAQ:MITK) was downgraded by analysts at Jefferson Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports.

Mitek Systems (NASDAQ:MITK) traded up 1.70% during mid-day trading on Friday, hitting $5.39. The stock had a trading volume of 51,194 shares. Mitek Systems has a 52 week low of $3.88 and a 52 week high of $7.71. The stock has a 50-day moving average of $5. and a 200-day moving average of $5.68. The company’s market cap is $164.0 million.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, February 6th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.06. The company had revenue of $4.50 million for the quarter, compared to the consensus estimate of $4.09 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 34.7% on a year-over-year basis. On average, analysts predict that Mitek Systems will post $-0.25 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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