Mitek Systems Inc. (NASDAQ:MITK) was up 2.1% during mid-day trading on Thursday . The company traded as high as $7.69 and last traded at $7.68, with a volume of 201,890 shares. The stock had previously closed at $7.52.

A number of equities research analysts recently issued reports on MITK shares. Zacks Investment Research lowered Mitek Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 30th. TheStreet raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Roth Capital reaffirmed a “buy” rating and set a $9.75 target price on shares of Mitek Systems in a research report on Thursday, June 2nd. Finally, Needham & Company LLC raised Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Monday, July 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $8.63.

The stock has a market capitalization of $252.33 million and a price-to-earnings ratio of 130.68. The firm’s 50 day moving average price is $7.72 and its 200 day moving average price is $7.05.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company earned $9.10 million during the quarter, compared to analysts’ expectations of $8.31 million. Mitek Systems’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. On average, equities research analysts predict that Mitek Systems Inc. will post $0.25 earnings per share for the current year.

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.