Alert: Rating Downgrade (12/15/23)-Mitek Systems Inc (NASDAQ: MITK).


Stock Rating Downgrade

During the last several trading days the Value Trend Rating for Mitek Systems Inc (NASDAQ: MITK) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.


Recent Price Action

Mitek Systems Inc (NASDAQ: MITK) stock declined slightly by -0.5% on 12/15/23. The stock closed at $12.81. Moreover, this decline was accompanied by exceptionally high trading volume at 223% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 19.9% during the last week.

Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, MITK is expected to continue to be a major Value Builder.

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 neutral Appreciation Score of 42 but a good Power Rating of 85, triggering the High Neutral Value Trend Rating.

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