Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Mitek Systems Inc (NASDAQ: MITK) improved in recent days. MITK's current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
Mitek Systems Inc (NASDAQ: MITK) stock declined modestly by -1.7% on 1/5/24. The stock closed at $11.98. Moreover, trading volume in this decline was above average at 133% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -9.0% during the last week.
Current PriceTarget Research Rating
MITK's future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Mitek Systems has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. This rating combines inconsistent signals from two proprietary PTR measures of a stock's attractiveness. Mitek Systems has a neutral Appreciation Score of 45 but a good Power Rating of 83, leading to the Positive Value Trend Rating.