Mitek Systems (NASDAQ:MITK – Get Free Report) had its price target upped by investment analysts at Craig Hallum from $17.00 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s target price would indicate a potential upside of 56.12% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. StockNews.com downgraded Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Mitek Systems in a report on Tuesday.
Get Our Latest Stock Analysis on Mitek Systems
Mitek Systems Stock Performance
Mitek Systems (NASDAQ:MITK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share 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 for the quarter. Equities analysts forecast that Mitek Systems will post 0.82 earnings per share for the current year.
Institutional Trading of Mitek Systems
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in Mitek Systems by 88.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock worth $29,000 after acquiring an additional 1,475 shares during the period. Point72 Middle East FZE acquired a new stake in Mitek Systems during the 4th quarter worth approximately $40,000. Quarry LP lifted its position in Mitek Systems by 536.0% during the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock worth $45,000 after acquiring an additional 3,993 shares during the period. Royal Bank of Canada lifted its position in Mitek Systems by 66.4% during the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock worth $46,000 after acquiring an additional 1,977 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in Mitek Systems during the 3rd quarter worth approximately $59,000. 83.64% of the stock is owned by institutional investors and hedge funds.
About Mitek Systems
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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