Analyst Rating Update on Mitek Systems (MITK)

Mitek Systems (NASDAQ:MITK) : Zacks Investment Research ranks Mitek Systems (NASDAQ:MITK) as 2, which is a Buy recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 4 research analysts is 1, which indicates as a Strong Buy.

Mitek Systems (NASDAQ:MITK) : The highest level Mitek Systems (NASDAQ:MITK) is projected to reach is $10 for the short term and the lowest estimate is at $8. The consolidated price target from 3 rating analysts who initiate coverage on the stock is $8.58 and the possibility the share price can swing is $1.01.

For the current week, the company shares have a recommendation consensus of Buy. Also, Roth Capital initiates coverage on Mitek Systems (NASDAQ:MITK).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Roth Capital announces the price target of $8 per share. The rating by the firm was issued on April 14, 2016.

Mitek Systems (NASDAQ:MITK): stock turned positive on Tuesday. Though the stock opened at $6.53, the bulls momentum made the stock top out at $6.99 level for the day. The stock recorded a low of $6.51 and closed the trading day at $6.87, in the green by 6.84%. The total traded volume for the day was 919,723. The stock had closed at $6.43 in the previous days trading.

In an insider trading activity,The officer (Chief Financial Officer) of Mitek Systems Inc, Clark Russell C. sold 109,568 shares at $8.03 on May 2, 2016. The Insider selling transaction had a total value worth of $879,831. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys 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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