Mitek Systems (NASDAQ:MITK) Price Target Increased to $19.00 by Analysts at Craig Hallum

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

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

Mitek Systems Stock Performance

MITK opened at $12.18 on Tuesday. The stock has a market cap of $569.91 million, a P/E ratio of -174.00 and a beta of 1.09. 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 stock’s 50 day simple moving average is $12.68 and its 200 day simple moving average is $11.96. Mitek Systems has a 1-year low of $8.77 and a 1-year high of $16.24.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share for the quarter. The business 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%. As a group, equities analysts anticipate that Mitek Systems will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Mitek Systems

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mitek Systems by 52.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 389,319 shares of the software maker’s stock worth $5,489,000 after purchasing an additional 134,502 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 buying an additional 92,146 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Mitek Systems by 3.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after acquiring an additional 963 shares during the last quarter. Legal & General Group Plc boosted its holdings in Mitek Systems by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after acquiring an additional 193,443 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Mitek Systems by 317.3% in the fourth quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock valued at $912,000 after acquiring an additional 53,180 shares during the last quarter. Institutional investors and hedge funds 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.