UPDATE: Jefferies Starts Mitek Systems (MITK) at Buy

April 16, 2021 6:01 AM EDT
Get Alerts MITK Hot Sheet
Price: $15.31 -4.31%

Rating Summary:
    7 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 45
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(Updated - April 16, 2021 8:39 AM EDT)

Jefferies analyst Hamzah Mazari initiates coverage on Mitek Systems (NASDAQ: MITK) with a Buy rating and a price target of $20.00.

The analyst commented, "We initiate on MITK with a Buy rating and $20 PT based on the business transformation under the new CEO and the penetration opportunity in the digital identity business. We also think the market is underestimating the potential for more large-scale M&A in the pipeline as the balance sheet is under levered (net cash position)."

For an analyst ratings summary and ratings history on Mitek Systems click here. For more ratings news on Mitek Systems click here.

Shares of Mitek Systems closed at $14.81 yesterday.

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