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

Mitek Systems (NASDAQ:MITK) had its target price hoisted by Craig Hallum from $17.00 to $19.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities research analysts have also commented on MITK. HC Wainwright restated a buy rating and set a $19.00 price target on shares of Mitek Systems in a research report on Tuesday. StockNews.com lowered Mitek Systems from a buy rating to a hold rating in a research report on Thursday, March 21st.

Mitek Systems Trading Down 1.6 %

Mitek Systems stock opened at $11.98 on Tuesday. The business has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $11.95. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. Mitek Systems has a 12 month low of $8.77 and a 12 month high of $16.24.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in 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 last quarter. Point72 Middle East FZE bought a new position in Mitek Systems in the 4th quarter valued at $40,000. Quarry LP boosted its position in 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 last quarter. Royal Bank of Canada boosted its position in 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 last quarter. Finally, Ensign Peak Advisors Inc bought a new position in Mitek Systems in the 3rd quarter valued at $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.