Roth Capital analyst Darren Aftahi maintained a Buy rating on Mitek Systems Inc (MITK) today and set a price target of $14. The company’s shares closed yesterday at $11.04.
Aftahi noted:
“We believe F3Q could mark the beginning of healthy growth coupled with y/ y operating leverage (something that has been lacking from the story given investment in the ID business). We expect slightly better F3Q19 results AMC on 7/25, but believe any sign of improved y/y operating leverage could serve as a catalyst for shares.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 15.6% and a 51.6% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and SharpSpring Inc.
Currently, the analyst consensus on Mitek Systems Inc is a Strong Buy with an average price target of $15.13.
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The company has a one-year high of $13.07 and a one-year low of $6.32. Currently, Mitek Systems Inc has an average volume of 458.4K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Michael E. Diamond, an Insider at MITK sold 154,324 shares for a total of $1,668,630.
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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 in December 16, 1986 and is headquartered in San Diego, CA.
