Stock Rating Upgrade
The Value Trend Rating for Mitek Systems Inc (NASDAQ: MITK) improved in the last week from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Mitek Systems Inc (NASDAQ: MITK) stock closed at $12.94 on 5/20/24 after a slight decline of -0.8%. NORMAL trading volume accompanied the decline. The stock has declined -3.2% during the last week but has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
MITK is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Mitek Systems has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Mitek Systems has a neutral Appreciation Score of 57 and a slightly positive Power Rating of 67, leading to the Positive Value Trend Rating.
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