In a report released yesterday, Michael Grondahl from Northland Securities maintained a Buy rating on Mitek Systems (MITK), with a price target of $16.00. The company’s shares closed last Thursday at $14.42, close to its 52-week high of $14.50.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 17.4% and a 62.2% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and Front Yard Residential.
Currently, the analyst consensus on Mitek Systems is a Moderate Buy with an average price target of $16.00.
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Mitek Systems’ market cap is currently $566.1M and has a P/E ratio of 89.10. The company has a Price to Book ratio of 7.93.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MITK in relation to earlier this year. Most recently, in September 2020, William Aulet, a Director at MITK sold 40,000 shares for a total of $460,800.
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 on December 16, 1983 and is headquartered in San Diego, CA.
