MITK Stock Summary and Trading Ideas (Mitek Systems | NASDAQ:MITK)

Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.

Mitek Systems trades on the NASDAQ stock market under the symbol MITK.

As of April 29, 2024, MITK stock price declined to $12.65 with 309,986 million shares trading.

MITK has a beta of 1.30, meaning it tends to be more sensitive to market movements. MITK has a correlation of 0.14 to the broad based SPY ETF.

MITK has a market cap of $591.90 million. This is considered a Small Cap stock.

Last quarter Mitek Systems reported $37 million in Revenue and $.14 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.04.

In the last 3 years, MITK stock traded as high as $23.29 and as low as $8.32.

The top ETF exchange traded funds that MITK belongs to (by Net Assets): VTI, VGT, IWM, VXF, IWO.

MITK has outperformed the market in the last year with a return of +40.2%, while the SPY ETF gained +24.2%. However, in the most recent history, MITK shares have underperformed the stock market with its stock returning -0.8% in the last 3 month period and -14.7% for the last 2 week period, while SPY has returned +4.1% and +1.1%, respectively.

MITK support price is $12.36 and resistance is $13.04 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MITK stock will trade within this expected range on the day.