Mitek Systems (NASDAQ:MITK) Price Target Raised to $19.00 at Craig Hallum

Mitek Systems (NASDAQ:MITK) had its price objective upped by Craig Hallum from $17.00 to $19.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts have also weighed in on the stock. HC Wainwright restated a buy rating and issued a $19.00 price objective on shares of Mitek Systems in a report on Tuesday. StockNews.com downgraded shares of Mitek Systems from a buy rating to a hold rating in a research report on Thursday, March 21st.

Mitek Systems Price Performance

NASDAQ:MITK opened at $13.39 on Tuesday. The firm has a market cap of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. Mitek Systems has a 12 month low of $8.77 and a 12 month high of $16.24. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $12.71 and its two-hundred day moving average price is $11.95.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) for the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%. The company had revenue of $37.66 million for the quarter. On average, equities analysts anticipate that Mitek Systems will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its stake in Mitek Systems by 2.9% in the first quarter. Citigroup Inc. now owns 255,825 shares of the software maker’s stock valued at $3,752,000 after acquiring an additional 7,162 shares during the last quarter. Bank of Montreal Can increased its position in Mitek Systems by 1.7% during the first quarter. Bank of Montreal Can now owns 412,568 shares of the software maker’s stock worth $6,255,000 after acquiring an additional 7,058 shares during the period. MetLife Investment Management LLC increased its position in Mitek Systems by 54.5% during the first quarter. MetLife Investment Management LLC now owns 23,402 shares of the software maker’s stock worth $343,000 after acquiring an additional 8,255 shares during the period. Federated Hermes Inc. increased its position in Mitek Systems by 41.5% during the first quarter. Federated Hermes Inc. now owns 180,972 shares of the software maker’s stock worth $2,655,000 after acquiring an additional 53,033 shares during the period. Finally, Toronado Partners LLC increased its holdings in Mitek Systems by 6.7% in the 1st quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker’s stock valued at $38,241,000 after buying an additional 164,284 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.