HC Wainwright Reaffirms “Buy” Rating for Mitek Systems (NASDAQ:MITK)

HC Wainwright reiterated their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $19.00 price target on the software maker’s stock.

Separately, StockNews.com began coverage on shares of Mitek Systems in a report on Thursday, August 17th. They set a buy rating on the stock.

Mitek Systems Price Performance

NASDAQ:MITK opened at $11.58 on Friday. The firm has a market cap of $527.93 million, a price-to-earnings ratio of 68.12 and a beta of 0.78. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $11.29 and its two-hundred day moving average is $10.28. Mitek Systems has a 12-month low of $8.60 and a 12-month high of $13.98.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, September 14th. The software maker reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $45.31 million for the quarter. Mitek Systems had a net margin of 3.46% and a return on equity of 19.20%. Research analysts expect that Mitek Systems will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MITK. Tower Research Capital LLC TRC lifted its holdings in shares of 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 increased 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 purchasing an additional 3,993 shares in the last quarter. Royal Bank of Canada increased 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 purchasing an additional 1,977 shares in the last quarter. Finally, Covestor Ltd increased its position in Mitek Systems by 115,275.0% during the 2nd quarter. Covestor Ltd now owns 4,615 shares of the software maker’s stock worth $50,000 after purchasing an additional 4,611 shares in the last quarter. 74.83% of the stock is currently owned by hedge funds and other institutional investors.

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.