Entering text into the input field will update the search result below

Mitek bull calls pullback 'an overreaction'

Nov. 18, 2019 2:19 PM ETMitek Systems, Inc. (MITK) StockMITKBy: Brandy Betz, SA News Editor4 Comments
  • Benchmark says Mitek Systems (NASDAQ:MITK) shares look undervalued after dropping more than 40% from a March peak.
  • Analyst Mark Schappel calls the pullback "an overreaction" related to a patent infringement case against a Mitek customer.
  • The analyst says Mitek's current price "seems like a ‘going out of business’ valuation in the current environment."
  • The company's fundamentals are "sound" and it's positioned for margin expansion, writes Schappel.
  • Benchmark maintains a Buy rating and trims the target from $14 to $11, saying the legal issue will remain an overhang until the next part of the litigation is resolved.
  • Mitek shares are up 3.4% to $7.44.

Recommended For You

About MITK Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
MITK--
Mitek Systems, Inc.