Roth Capital Initiates Coverage on Mitek Systems to Buy

Roth Capital Initiates Coverage on Mitek Systems(NASDAQ:MITK). The shares have been rated Buy. The rating by Roth Capital was issued on Apr 14, 2016.

In a different note, On Mar 23, 2016, Benchmark said it Maintains its rating on Mitek Systems. In the research note, the firm Raises the price-target to $6.50 per share. The shares have been rated ‘Buy’ by the firm. Northland Securities said it Initiates Coverage on Mitek Systems, according to a research note issued on Jan 25, 2016. The shares have been rated ‘Overweight’ by the firm.

Mitek Systems (MITK) shares turned negative on Mondays trading session with the shares closing down -0.07 points or -1.14% at a volume of 3,85,279. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.19. The peak price level was also seen at $6.19 while the days lowest was $5.95. Finally the shares closed at $6.05. The 52-week high of the shares is $6.77 while the 52-week low is $2.71. According to the latest information available, the market cap of the company is $194 M.

Mitek Systems(MITK) last announced its earnings results on Jan 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $7.40M. Analysts had an estimated revenue of $6.45M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.02.

Several Insider Transactions has been reported to the SEC. On Feb 19, 2016, John M Thornton (director) sold 42,574 shares at $5.17 per share price.Also, On Nov 18, 2015, Russell C. Clark (Chief Financial Officer) sold 481 shares at $4.35 per share price.On Nov 10, 2015, Michael E Diamond (Chief Revenue Officer) sold 4,466 shares at $3.87 per share price, according to the Form-4 filing with the securities and exchange commission.

Mitek Systems Inc. (Mitek) is a provider of mobile solutions. The Company is engaged in the development sale and service of software solutions related to mobile imaging. The Company’s technology allows users to deposit checks pay bills transfer credit card balances open accounts and get insurance quotes by taking pictures of various documents with their camera-equipped smartphones and tablets. IDchecker Inc. a part of the Company offers Strong ID product which provides identity document authentication solutions including passports driver licenses and identity cards across the world and Facelink facial recognition technology which is a multi-factor identity verification enables organizations to confirm the authenticity of an identity document and match it to the person presenting the document during a mobile transaction.

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