Mitek Systems
MITK

$8.60

0.58%

Market Cap: $402M

About: Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.

Employees: 590

Information Technology Computer Peripheral Equipment

0

Funds holding %

of 6,686 funds

0

Analysts bullish %

of 4 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

59% more call options, than puts

Call options by funds: $4.8M | Put options by funds: $3.01M

34% more repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 44

2.01% more ownership

Funds ownership: 74.55% [Q1] → 76.56% (+2.01%) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]

6% less first-time investments, than exits

New positions opened: 30 | Existing positions closed: 32

1% less funds holding

Funds holding: 156 [Q1] → 154 (-2) [Q2]

18% less capital invested

Capital invested by funds: $491M [Q1] → $401M (-$90.7M) [Q2]

See Fund Rankings

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$9.50

10%

upside

Avg. target

$12.13

41%

upside

High target

$15

74%

upside

4 analyst ratings

3 positive

75%

1 neutral

25%

0 negative

0%

Jefferies Surinder Thind 40% 1-year accuracy 4 / 10 met price target	10%upside $9.50	Hold Downgraded	4 Sept 2024
HC Wainwright & Co. Scott Buck 24% 1-year accuracy 22 / 91 met price target	28%upside $11	Buy Maintained	12 Aug 2024
Maxim Group Allen Klee 33% 1-year accuracy 4 / 12 met price target	51%upside $13	Buy Maintained	12 Aug 2024
Craig-Hallum Chad Bennett 50% 1-year accuracy 4 / 8 met price target	74%upside $15	Buy Maintained	9 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 7 articles about MITK published over the past 30 days

Concerned Stockholder Group Votes Against the Re-Election of Mitek Systems' Board of Directors

HOUSTON--(BUSINESS WIRE)--Hammana Partners LP, Bradley L. Radoff and Joshua E. Schechter (together with their affiliates, the “Concerned Stockholder Group” or “we”) are significant stockholders of Mitek Systems, Inc. (NASDAQ: MITK) (“Mitek” or the “Company”). Today, the Concerned Stockholder Group issued the below letter to stockholders ahead of the Company's Annual Meeting of Stockholders on September 10, 2024: September 5, 2024 Fellow Stockholders, Over the past 12 months, we have engaged pri.

Concerned Stockholder Group Votes Against the Re-Election of Mitek Systems' Board of Directors

Zacks Investment Research

Mitek Systems (MITK) & Alogent Team Up to Combat Check Fraud

Mitek Systems (MITK) strengthens its collaboration with Alogent to empower financial institutions with a robust defense against check fraud.

Mitek Systems (MITK) & Alogent Team Up to Combat Check Fraud

Alogent and Mitek Announce Partnership to Tackle Ballooning Check Fraud Epidemic

SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, announces the expansion of their partnership with Alogent. Alogent will integrate Mitek's Check Fraud Defender (CFD) into its web-based enterprise deposits automation solution, Unify. According to the annual Federal Reserve Financial Services Survey, in the United States, forms of check fraud including forgery and counterfeiting account for 31% of all bank fraud. In fact, in.

Alogent and Mitek Announce Partnership to Tackle Ballooning Check Fraud Epidemic

Mitek's Check Fraud DefenderTM Clinches Top Honor with Datos Insights' Impact Awards for Pioneering Innovation in Transaction Fraud Monitoring and Decisioning

SAN DIEGO--(BUSINESS WIRE)-- #checkfraud--Mitek Systems Inc. (NASDAQ: MITK) has been named the winner of the prestigious Best Transaction Fraud Monitoring and Decisioning Innovation category in the 2024 Datos Insights' Fraud & AML Impact Awards. This recognition solidifies Mitek's position as an industry leader in fraud detection in financial services, particularly for its groundbreaking product, Check Fraud DefenderTM (CFD). This award highlights the strides Mitek continues to make in advancing transact.

Mitek's Check Fraud DefenderTM Clinches Top Honor with Datos Insights' Impact Awards for Pioneering Innovation in Transaction Fraud Monitoring and Decisioning

Mitek: At Least The Convertibles Might Stay Unexercised

Hope for business is not coming through or getting delayed as much as 18 months, causing a revenue shortfall. There might be some pick-up coming in thanks to a deepfake protection product that is coming to market imminently. Another positive is that considerable outstanding dilution from convertibles with a conversion price of over $20 likely doesn't get exercised before the 2026 expiry.

Mitek: At Least The Convertibles Might Stay Unexercised

Zacks Investment Research

Mitek Systems (MITK) Misses Q3 Earnings and Revenue Estimates

Mitek Systems (MITK) came out with quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.20 per share a year ago.

Mitek Systems (MITK) Misses Q3 Earnings and Revenue Estimates

Mitek Reports Fiscal 2024 Third Quarter Financial Results

SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com, “Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today reported financial results for its third quarter ended June 30, 2024 and revised its previously provided guidance for its 2024 fiscal year ending September 30, 2024. Fiscal 2024 Third Quarter Financial Highlights Total revenue was $45.0 million, compared to $43.1 million a year ago, or 4% year-over-year growth. GAAP opera.

Mitek Reports Fiscal 2024 Third Quarter Financial Results

Mitek to Report Fiscal 2024 Third Quarter Financial Results on August 8, 2024

SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in digital identity and digital fraud prevention, today announced that it will conduct a conference call on Thursday, August 8th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal third quarter ended June 30, 2024. The financial results will be issued in a press release prior to the call. Mitek Interim CEO Scott Carter and CFO Dave Lyle will host the call, foll.

Mitek to Report Fiscal 2024 Third Quarter Financial Results on August 8, 2024

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