Mitek Systems (NASDAQ:MITK – Get Free Report) had its price target lifted by investment analysts at Craig Hallum from $17.00 to $19.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price objective suggests a potential upside of 38.99% from the company’s current price.
Other research analysts have also recently issued research reports about the company. StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a report on Tuesday.
Check Out Our Latest Stock Report on Mitek Systems
Mitek Systems Trading Down 7.8 %
Mitek Systems (NASDAQ:MITK – Get Free Report) last announced its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) 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%. On average, equities research analysts predict that Mitek Systems will post 0.82 EPS for the current year.
Hedge Funds Weigh In On Mitek Systems
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Mitek Systems by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock worth $44,065,000 after acquiring an additional 92,146 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Mitek Systems by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after purchasing an additional 963 shares during the last quarter. Legal & General Group Plc increased its position in shares of Mitek Systems by 6.8% during the 4th quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after purchasing an additional 193,443 shares during the last quarter. Barclays PLC increased its position in shares of Mitek Systems by 317.3% during the 4th quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock valued at $912,000 after purchasing an additional 53,180 shares during the last quarter. Finally, Newtyn Management LLC bought a new position in shares of Mitek Systems during the 4th quarter valued at about $12,942,000. 83.64% of the stock is currently owned by 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.
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