Shares of Mitek Systems Inc. (NASDAQ:MITK) were up 3% during trading on Tuesday . The stock traded as high as $7.56 and last traded at $7.48, with a volume of 303,567 shares changing hands. The stock had previously closed at $7.26.

Several analysts have commented on MITK shares. TheStreet lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Zacks Investment Research lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. Roth Capital assumed coverage on Mitek Systems in a report on Thursday, April 14th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Monday, July 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $8.63.

The firm’s 50-day moving average is $7.49 and its 200-day moving average is $6.78. The stock has a market cap of $247.42 million and a price-to-earnings ratio of 128.14.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.31 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was up 41.3% on a year-over-year basis. Analysts expect that Mitek Systems Inc. will post $0.25 EPS for the current year.

An institutional investor recently raised its position in Mitek Systems stock. Coe Capital Management LLC increased its stake in shares of Mitek Systems Inc. (NASDAQ:MITK) by 28.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,655 shares of the company’s stock after buying an additional 75,000 shares during the period. Coe Capital Management LLC owned approximately 1.06% of Mitek Systems worth $1,396,000 at the end of the most recent quarter.

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's FREE daily email newsletter.