Shares of Mitek Systems Inc. (NASDAQ:MITK) rose 7.5% on Friday . The stock traded as high as $7.74 and last traded at $7.71, with a volume of 573,515 shares. The stock had previously closed at $7.17.

MITK has been the subject of several research reports. Zacks Investment Research raised Mitek Systems from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Tuesday, April 5th. TheStreet cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Roth Capital reaffirmed a “buy” rating on shares of Mitek Systems in a report on Monday, April 25th. Finally, Benchmark Co. lifted their price objective on Mitek Systems from $6.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday, March 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Mitek Systems presently has an average rating of “Buy” and an average price target of $8.33.

The firm’s 50-day moving average is $7.76 and its 200 day moving average is $6.24. The company has a market capitalization of $250.95 million and a PE ratio of 112.90.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, April 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. During the same period in the prior year, the company earned $0.05 earnings per share. The business earned $8.52 million during the quarter, compared to the consensus estimate of $7.38 million. The business’s revenue was up 49.5% on a year-over-year basis. Equities analysts anticipate that Mitek Systems Inc. will post $0.24 earnings per share for the current fiscal year.

In other news, CEO James B. Debello sold 59,091 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $8.11, for a total value of $479,228.01. Following the completion of the transaction, the chief executive officer now directly owns 803,789 shares of the company’s stock, valued at $6,518,728.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael E. Diamond sold 170,007 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $8.06, for a total value of $1,370,256.42. Following the completion of the transaction, the insider now directly owns 241,892 shares of the company’s stock, valued at $1,949,649.52. The disclosure for this sale can be found here.

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.