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Shares of Mitek Systems (NASDAQ:MITK) hit a new 52-week low during trading on Monday , Stock Ratings News reports. The stock traded as low as $2.15 and last traded at $2.54, with a volume of 2,213,991 shares traded. The stock had previously closed at $3.05.

Separately, analysts at Zacks upgraded shares of Mitek Systems from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $3.90 price target on the stock.

The stock’s 50-day moving average is $3.23 and its 200-day moving average is $3.87. The company’s market cap is $76.3 million.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.03. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $4.74 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts predict that Mitek Systems will post $-0.24 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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