Mitek Systems Inc (NASDAQ: MITK) has recently experienced extremely meaningful negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, its longer term price trend turned down, and negative upside/downside volume developed.
Marginal negative changes in fundamentals have recently occurred for Mitek Systems Inc (NASDAQ: MITK): the consensus estimate for September, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.
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). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Mitek Systems has a slightly positive Appreciation Score of 63 and a slightly positive Power Rating of 68, with the Positive Value Trend Rating the result.
Recent Price Action
Mitek Systems Inc (NASDAQ: MITK) stock closed at $10.88 on 6/14/24 after a decline of -4.0%. Moreover, this decline was accompanied by above average trading volume at 130% of normal. The stock has declined -14.1% during the last week but has been strong relative to the market over the last nine months.
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