Mitek Systems (NASDAQ:MITK) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Mitek Systems (NASDAQ:MITK) in a research note issued to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $19.00 price objective on the software maker’s stock.

Separately, StockNews.com downgraded Mitek Systems from a buy rating to a hold rating in a research report on Thursday, March 21st.

Mitek Systems Price Performance

Mitek Systems stock opened at $13.39 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.69 and a quick ratio of 3.69. The company has a market capitalization of $626.52 million, a PE ratio of 83.69 and a beta of 1.09. Mitek Systems has a one year low of $8.77 and a one year high of $16.24. The business has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $11.95.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The firm had revenue of $37.66 million during the quarter. On average, sell-side analysts forecast that Mitek Systems will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Mitek Systems

Several institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of 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 worth $29,000 after acquiring an additional 1,475 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Mitek Systems during the fourth quarter worth $40,000. Quarry LP raised its position in shares of Mitek Systems by 536.0% during the first 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 last quarter. Royal Bank of Canada raised its position in shares of Mitek Systems by 66.4% during the third 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 last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Mitek Systems during the third quarter worth $59,000. Institutional investors own 83.64% of the company’s stock.

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.