Mitek Systems, Inc. (NASDAQ:MITK) has been given a $11.00 price objective by research analysts at Roth Capital in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the software maker’s stock. Roth Capital’s price objective would suggest a potential upside of 4.76% from the stock’s current price.

MITK has been the subject of a number of other research reports. ValuEngine upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Friday, July 14th. TheStreet upgraded shares of Mitek Systems from a “c+” rating to a “b” rating in a research report on Friday, April 28th. Benchmark Co. reiterated a “buy” rating on shares of Mitek Systems in a research report on Tuesday, March 21st. Finally, BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $10.00.

Mitek Systems (NASDAQ MITK) traded up 1.94% during midday trading on Wednesday, reaching $10.50. The company’s stock had a trading volume of 700,596 shares. The stock has a market cap of $350.42 million, a price-to-earnings ratio of 150.00 and a beta of 0.66. The stock’s 50 day moving average price is $8.75 and its 200-day moving average price is $7.37. Mitek Systems has a one year low of $5.26 and a one year high of $10.62.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Friday, April 28th. The software maker reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $11.40 million during the quarter, compared to the consensus estimate of $10.33 million. Mitek Systems had a net margin of 5.85% and a return on equity of 11.64%. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts forecast that Mitek Systems will post $0.29 EPS for the current fiscal year.

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In related news, CFO Russell C. Clark sold 39,400 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $8.25, for a total transaction of $325,050.00. Following the completion of the transaction, the chief financial officer now owns 88,818 shares in the company, valued at approximately $732,748.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Gray sold 7,789 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $8.20, for a total transaction of $63,869.80. Following the transaction, the insider now owns 87,211 shares of the company’s stock, valued at approximately $715,130.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,869 shares of company stock valued at $411,834. Insiders own 8.52% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thomson Horstmann & Bryant Inc. acquired a new stake in Mitek Systems during the first quarter worth approximately $3,874,000. Goldman Sachs Group Inc. increased its stake in Mitek Systems by 3,097.1% in the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock worth $2,431,000 after buying an additional 354,150 shares during the last quarter. Skylands Capital LLC increased its stake in Mitek Systems by 55.6% in the first quarter. Skylands Capital LLC now owns 588,700 shares of the software maker’s stock worth $3,915,000 after buying an additional 210,332 shares during the last quarter. Highbridge Capital Management LLC increased its stake in Mitek Systems by 423.1% in the fourth quarter. Highbridge Capital Management LLC now owns 137,912 shares of the software maker’s stock worth $848,000 after buying an additional 111,549 shares during the last quarter. Finally, P.A.W. Capital Corp increased its stake in Mitek Systems by 66.7% in the first quarter. P.A.W. Capital Corp now owns 250,000 shares of the software maker’s stock worth $1,663,000 after buying an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 39.12% of the company’s stock.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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