William Blair analyst Jake Roberge has maintained their bullish stance on MITK stock, giving a Buy rating on August 19.
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Jake Roberge has given his Buy rating due to a combination of factors highlighted during recent meetings with Mitek Systems’ management. The discussions with the CEO and CFO revealed promising trends in the company’s mobile deposit business, alongside the growing potential of their Check Fraud Defender initiative.
Furthermore, the introduction of new products like MiPass and MiVIP is generating positive demand, suggesting strong future growth prospects. With the stock currently trading at a valuation of just 10 times the projected earnings for 2025, Roberge sees it as an attractive investment opportunity, especially given the potential for sustained double-digit organic growth driven by these new ventures.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $11.50 price target.