Analyst Price Target Update on Mitek Systems (NASDAQ:MITK)

Mitek Systems (NASDAQ:MITK) stock has received a short term price target of $ 8.58 from 3 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $1.01. The higher estimate of target price is $10 , while the lower price target estimate is $8

Many analysts have stated their opinion on the company shares. Roth Capital initiates coverage on Mitek Systems (NASDAQ:MITK). The shares have now been rated Buy by the stock experts at the ratings house. Roth Capital announces the current price target of $8 per share on Mitek Systems . The rating by the firm was issued on April 14, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities,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 (NASDAQ:MITK) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.17 points or 2.28% at $7.29 with 873,466 shares getting traded. Post opening the session at $7.6, the shares hit an intraday low of $7.2 and an intraday high of $7.73 and the price was in this range throughout the day. The company has a market cap of $235 million and the number of outstanding shares have been calculated to be 32,214,857 shares. The 52-week high of Mitek Systems (NASDAQ:MITK) is $9.4899 and the 52-week low is $2.71.

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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