National Securities Corp Believes Mitek Systems Inc (NASDAQ: MITK) Still Has Room to Grow

By Austin Angelo

National Securities Corp analyst Ilya Grozovsky maintained a Buy rating on Mitek Systems Inc (MITKResearch Report) today and set a price target of $20. The company’s shares closed yesterday at $12.07, close to its 52-week high of $13.07.

According to TipRanks.com, Grozovsky is a 4-star analyst with an average return of 7.9% and a 57.3% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Digital Turbine Inc, and Digimarc Corp.

Currently, the analyst consensus on Mitek Systems Inc is a Strong Buy with an average price target of $13.83, a 14.6% upside from current levels. In a report issued on April 25, Roth Capital also maintained a Buy rating on the stock with a $13.50 price target.

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The company has a one-year high of $13.07 and a one-year low of $6.32. Currently, Mitek Systems Inc has an average volume of 340.5K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

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Mitek Systems, Inc. engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in December 16, 1986 and is headquartered in San Diego, CA.