After Jefferies and Northland Securities gave Mitek Systems (NASDAQ: MITK) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Allen Klee reiterated a Buy rating on Mitek Systems yesterday and set a price target of $25.00. The company’s shares closed last Tuesday at $15.66.
According to TipRanks.com, Klee has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -12.6% and a 26.0% success rate. Klee covers the Technology sector, focusing on stocks such as Digital Turbine, AudioEye, and Kaleyra.
Mitek Systems has an analyst consensus of Strong Buy, with a price target consensus of $21.33, which is a 34.9% upside from current levels. In a report issued on April 30, Northland Securities also assigned a Buy rating to the stock with a $19.00 price target.
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Based on Mitek Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $25.98 million and net profit of $2.17 million. In comparison, last year the company earned revenue of $22.07 million and had a net profit of $560K.
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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.
