StockNews.com upgraded shares of Mitek Systems (NASDAQ:MITK – Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
A number of other brokerages have also recently commented on MITK. HC Wainwright reaffirmed a buy rating and set a $19.00 price target on shares of Mitek Systems in a research report on Tuesday. Craig Hallum lifted their price target on Mitek Systems from $17.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday.
Check Out Our Latest Report on MITK
Mitek Systems Stock Down 9.1 %
Mitek Systems (NASDAQ:MITK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The company had revenue of $37.66 million during the quarter. Sell-side analysts anticipate that Mitek Systems will post 0.82 EPS for the current fiscal year.
Hedge Funds Weigh In On Mitek Systems
Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Mitek Systems by 88.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after buying an additional 1,475 shares during the period. Point72 Middle East FZE acquired a new position in shares of Mitek Systems in the 4th quarter valued at about $40,000. Quarry LP lifted its holdings in shares of Mitek Systems by 536.0% in the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after buying an additional 3,993 shares during the period. Royal Bank of Canada lifted its holdings in shares of Mitek Systems by 66.4% in the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after buying an additional 1,977 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in shares of Mitek Systems in the 3rd quarter valued at about $59,000. 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.
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