Mitek Systems (NASDAQ:MITK) Receives “Buy” Rating from HC Wainwright

Mitek Systems (NASDAQ:MITK)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $19.00 price objective on the software maker’s stock. HC Wainwright’s price target suggests a potential upside of 56.12% from the company’s current price.

Separately, StockNews.com cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 21st.

Mitek Systems Price Performance

Shares of NASDAQ:MITK opened at $12.17 on Tuesday. 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 has a market cap of $569.43 million, a P/E ratio of -173.83 and a beta of 1.09. The company’s fifty day moving average is $12.70 and its two-hundred day moving average is $11.95.

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

Institutional Investors Weigh In On Mitek Systems

A number of hedge funds have recently bought and sold shares of MITK. Tower Research Capital LLC TRC boosted its holdings in Mitek Systems by 88.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after acquiring an additional 1,475 shares during the period. Point72 Middle East FZE bought a new stake in shares of Mitek Systems in the fourth quarter valued at about $40,000. Quarry LP lifted its stake in shares of Mitek Systems by 536.0% in the first 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 stake in shares of Mitek Systems by 66.4% in the third 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 bought a new stake in shares of Mitek Systems in the third quarter valued at about $59,000. 83.64% of the stock is currently owned by institutional investors.

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.