Mitek Systems Inc. [MITK] gain 70.07% so far this year. What now?

Mitek Systems Inc. [NASDAQ: MITK] price surged by 0.62 percent to reach at $0.08.

A sum of 1022808 shares traded at recent session while its average daily volume was at 469.79K shares. Mitek Systems Inc. shares reached a high of $13.23 and dropped to a low of $12.62 until finishing in the latest session at $13.01.

The one-year MITK stock forecast points to a potential downside of -7.25. The average equity rating for MITK stock is currently 1.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Mitek Systems Inc. [MITK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MITK shares is $12.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MITK stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Mitek Systems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 01, 2020. The new note on the price target was released on March 25, 2020, representing the official price target for Mitek Systems Inc. stock. Previously, the target price had yet another drop from $12.50 to $8, while ROTH Capital kept a Neutral rating on MITK stock. On May 02, 2019, analysts decreased their price target for MITK shares from 15 to 14.

The Average True Range (ATR) for Mitek Systems Inc. is set at 0.59, with the Price to Sales ratio for MITK stock in the period of the last 12 months amounting to 5.55. The Price to Book ratio for the last quarter was 4.52, with the Price to Cash per share for the same quarter was set at 1.21. Price to Free Cash Flow for MITK in the course of the last twelve months was 22.99 with Quick ratio for the last quarter at 2.80.

MITK Stock Performance Analysis:

Mitek Systems Inc. [MITK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.83. With this latest performance, MITK shares gained by 2.28% in over the last four-week period, additionally plugging by 65.10% over the last 6 months – not to mention a rise of 34.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MITK stock in for the last two-week period is set at 59.18, with the RSI for the last a single of trading hit 59.88, and the three-weeks RSI is set at 57.99 for Mitek Systems Inc. [MITK]. The present Moving Average for the last 50 days of trading for this stock 11.75, while it was recorded at 12.64 for the last single week of trading, and 9.47 for the last 200 days.

Insight into Mitek Systems Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Mitek Systems Inc. [MITK] shares currently have an operating margin of +6.90 and a Gross Margin at +84.79. Mitek Systems Inc.’s Net Margin is presently recorded at -0.86.

Return on Total Capital for MITK is now 5.72, given the latest momentum, and Return on Invested Capital for the company is -0.71. Return on Equity for this stock declined to -0.71, with Return on Assets sitting at -0.55. When it comes to the capital structure of this company, Mitek Systems Inc. [MITK] has a Total Debt to Total Equity ratio set at 0.56. Additionally, MITK Total Debt to Total Capital is recorded at 0.56, with Total Debt to Total Assets ending up at 0.44. Long-Term Debt to Equity for the company is recorded at 0.37, with the Long-Term Debt to Total Capital now at 0.37.

Reflecting on the efficiency of the workforce at the company, Mitek Systems Inc. [MITK] managed to generate an average of -$2,549 per employee. Receivables Turnover for the company is 4.96 with a Total Asset Turnover recorded at a value of 0.64.Mitek Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 2.80.

MITK Stock EPS

With the latest financial reports released by the company, Mitek Systems Inc. posted 0.21/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MITK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Mitek Systems Inc. go to 15.00%.

Mitek Systems Inc. [MITK] Insider Position Details

There are presently around $363 million, or 70.50% of MITK stock, in the hands of institutional investors. The top three institutional holders of MITK stocks are: TORONADO PARTNERS, LLC with ownership of 2,862,394, which is approximately 50.598% of the company’s market cap and around 1.30% of the total institutional ownership; LEGAL & GENERAL GROUP PLC, holding 2,503,499 shares of the stock with an approximate value of $32.57 million in MITK stocks shares; and VANGUARD GROUP INC, currently with $28.16 million in MITK stock with ownership of nearly -10.625% of the company’s market capitalization.

Positions in Mitek Systems Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 79 institutional holders increased their position in Mitek Systems Inc. [NASDAQ:MITK] by around 4,026,313 shares. Additionally, 52 investors decreased positions by around 3,691,450 shares, while 14 investors held positions by with 20,189,911 shares. The mentioned changes placed institutional holdings at 27,907,674 shares, according to the latest SEC report filing. MITK stock had 28 new institutional investments in for a total of 1,338,348 shares, while 16 institutional investors sold positions of 766,246 shares during the same period.

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