Roth Capital Maintains Their Buy Rating on Mitek Systems Inc (MITK)


Roth Capital analyst Darren Aftahi maintained a Buy rating on Mitek Systems Inc (MITK) today and set a price target of $13.50. The company’s shares opened today at $9.60, close to its 52-week high of $10.10.

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 10.3% and a 52.2% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Veritone Inc.

Mitek Systems Inc has an analyst consensus of Strong Buy, with a price target consensus of $15.50, representing a 61.5% upside. In a report issued on October 24, National Securities Corp also maintained a Buy rating on the stock with a $17.50 price target.

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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 net profit of $12.87 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MITK in relation to earlier this year.

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 the development, sale, and service of its proprietary software solutions related to mobile image capture and identity verification. The firm is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card.

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