Stock Rating Downgrade
Of late 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
On 4/8/24, Mitek Systems Inc (NASDAQ: MITK) stock declined slightly by -0.3%, closing at $14.55. However, this decline was accompanied by below average trading volume at 75% of normal. Relative to the market the stock has been strong over the last nine months and has risen 3.2% 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 an important Value Builder.
Mitek Systems has a current Value Trend Rating of C (High Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Mitek Systems has a neutral Appreciation Score of 50 and a slightly positive Power Rating of 69, leading to the High Neutral Value Trend Rating.
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