In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Mitek Systems Inc (MITK), with a price target of $13.50. The company’s shares opened today at $11.21, close to its 52-week high of $11.92.
Aftahi wrote:
“We expect slightly better F1Q19 results (profit skewed) relative to consensus when MITK reports AMC on 1/29. While we believe fundamentals remain healthy and should lead to increasing profit margins throughout the year, there may be a lot of good news priced into shares currently (new CEO and ASG bid), and as such, we believe a very solid Q and guide is needed to push shares higher.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 11.5% and a 55.2% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and RumbleON Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mitek Systems Inc with a $13.90 average price target.
See today’s analyst top recommended stocks >>
Based on Mitek Systems Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.13 million. In comparison, last year the company had a GAAP net loss of $5.74 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Mitek Systems, Inc. engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in December 16, 1986 and is headquartered in San Diego, CA.
