Alert: Major Price Decline (8/9/24)-Mitek Systems Inc (NASDAQ: MITK).

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Mitek Systems Inc (NASDAQ: MITK) stock suffered a major decline of -25.4% on 8/9/24. The shares closed at $8.42. Moreover, exceptionally high trading volume at 552% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -35.6% during the last week.

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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 C (High Neutral). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Mitek Systems has a good Appreciation Score of 76 but a neutral Power Rating of 40, resulting in the High Neutral Value Trend Rating.

Rating Review

In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.

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