Mitek Systems, Inc. (MITK)

[wadirum1]

Well done. Yes, MITK seems to be growing very rapidly and consistently. Could be one I hold for the long term.

[Trum]

I was able to add 2k more shares yesterday at 8.50 ... was fretting a bit over it since it started hangning around the 8:42 mark but the after hours PPS shot up and I knew it was going to be a good day today. I might move my exit point out to 13 now.

[wadirum1]

https://finance.yahoo.com/news/mitek-reports-31-annual-revenue-210500465.html

[wadirum1]

If this goes much lower, it might be where I park some funds I've been raising from sales of other winners.

[wadirum1]

This isn't as low as I'm hoping to grab, but I did buy a small position today.

[wadirum1]

Well, my hoped-for drop hasn't yet occurred. And I really like this company. Going to have to do some more thinking today... Chart doesn't seem to be deteriorating. Not great, but not getting worse.

[Trum]

You sound somewhat bearish on this based on the charting. One thing that I try to balance into the equation is the technology involved and the ratio of funds holding (yeah the charts also account for some of that). Sure we can see this trend down based on market forces alone - yet something tells me we won't see much of a trend downward until the funds do their capture and lock in gains. I think over 13%-15% for some of these guys is conservative but considering the industry my bet is that it will be much closer to 25%....so if some of them start exiting at around $10/pps we could see a good opportunity to buy back in around $7...as the fundamentals have only changed for the better. My gut tells me that if we see close to $10 it will be due to continued good earnings and growing customer base...and a hedge fund mgr would likely start setting up blocks for trigger sale only on drops....they can't waste gains like this if their overall mix is on the south side of any volatility.

[wadirum1]

$MITK new out.

Hmmm. I really like this company. But the chart is telling me that the 50-day MA is unlikely to hold, and I'm not even confident about the 200-day MA:

[wadirum1]

Thanks! Very helpful.

I'm still on the sidelines here. Chart doesn't seem like it is ready yet.

[Trum]

It has more to do with the USAA posturing (the folks that sued them 4+ years ago)... MITKs PPS dropped to just under $3 ( I averaged in at 3.16/share).. Those guys are once again pushing for their patent rights but this time are going after the banks instead of MITK. The lawsuit ended with neither party having to pay the other and MITK ended up dropping their counter suits...and the stock price took off from there. IMO - USAA is playing squeaky wheel, no way no how are they going to get a cent from the banks (far deeper pockets than them) and they don't really have any new intellectual rights above what they failed to win a couple years ago.

I think it has some to do with the new-short positioning, some profit taking(believe me I was tempted) and some insider dumping but we will know more about that later.

Just too many hedge funds in this one for a longer run to be scared. Plus we will certainly see 2017 numbers end up quite nice for MITK compared to year over year.

There are some rumors (most likely high hope conspiracies) about potential buyout and the game playing that could come before such a thing.... just too much legal trouble with that theory to believe it true...but who knows what type of games folks play for saving several hundred million.

[wadirum1]

Any thoughts as to why this has dropped?

I'm eagerly watching it for a chance to re-enter.

[Trum]

I hope we see 10+ this week. The Emerging Tech meeting on the 16th will certainly help. Along with strong earnings and forecasts. I would love to exit at over 11/share....maybe half my holdings and wait out till 12/share for the rest.

[wadirum1]

I exited my position today at $8.35. Tasty gain. Might have gotten out too soon, but there are other stocks to invest in.

[wadirum1]

MITK just busted its chart wide open. Cup and handle formed, and now breaking out of that formation to the upside.

Very SWEET!!!!

[wadirum1]

MITK looking sweet!

[wadirum1]

MITK is putting in higher highs and higher lows. Looking pretty sweet. I added some today.

[wadirum1]

MITK looking better and better. Nothing like getting a sweet contract from a multi-billion dollar industry leader...

[wadirum1]

Bought some MITK today. Swing trade?

[Brenton]

Mitek Systems Incorporated Sellers Covered 4.6% of Their Shorts

July 31, 2016, Marguerite Chambers

The stock of Mitek Systems Incorporated (NASDAQ:MITK) registered a decrease of 4.6% in short interest. MITK’s total short interest was 2.37M shares in July as published by FINRA. Its down 4.6% from 2.49 million shares, reported previously. With 678,600 shares average volume, it will take short sellers 4 days to cover their MITK’s short positions. The short interest to Mitek Systems Incorporated’s float is 7.58%. The stock decreased 3.94% or $0.31 on July 29, hitting $7.55. About 660,154 shares traded hands. Mitek Systems, Inc. (NASDAQ:MITK) has risen 83.70% since December 23, 2015 and is uptrending. It has outperformed by 78.40% the S&P500.

Mitek Systems, Inc. develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The company has a market cap of $233.63 million. 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. It has a 113.81 P/E ratio. The Company’s technology uses algorithms to correct image distortion, extract relevant data, route images to their desired location and process transactions.

The institutional sentiment decreased to 1.63 in Q1 2016. Its down 0.90, from 2.53 in 2015Q4. The ratio worsened, as 13 funds sold all Mitek Systems, Inc. shares owned while 17 reduced positions. 28 funds bought stakes while 21 increased positions. They now own 10.15 million shares or 13.44% more from 8.95 million shares in 2015Q4.

Thompson Davis & Co. Inc. holds 0.98% of its portfolio in Mitek Systems, Inc. for 100,610 shares. Messner & Smith Theme Value Investment Management Ltd Ca owns 62,035 shares or 0.8% of their US portfolio. Moreover, White Pine Capital Llc has 0.73% invested in the company for 259,137 shares. The Pennsylvania-based Wealthtrust Axiom Llc has invested 0.61% in the stock. Eam Investors Llc, a California-based fund reported 472,806 shares.

Out of 2 analysts covering Mitek Systems (NASDAQ:MITK), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Mitek Systems has been the topic of 3 analyst reports since January 8, 2016 according to StockzIntelligence Inc.


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Source: http://www.consumereagle.com/mitek-systems-incorporated-nasdaqmitk-sellers-covered-4-6-of-their-shorts/66199/

[Brenton]

Mitek Prevails in Rothschild Patent Infringement Suit. This is big for us. Now to prove the rest. Once this has been done it will be hard to hold this thing back. No further skepticism in the ownership of this technology. :)

[Brenton]

In certain circumstances it could be an individual of the company selling to collect money to put back into other parts of the business. Other times it could be profit taking for personal reasons. It's hard to pin point.

That's why it's wise to keep your eyes on their financial numbers. Is the individual selling frequently? What's the company's current financial status? Is the company consistently growing profits? There's many different factors that can come into play.

[stocktrademan]

MITK bullish 7.27

added to Russell 2000 index
bounce up off support moving average
macd hidden bullish divergence
high volume candlestick at support

[cushsix]

SAN DIEGO, June 14, 2016 (GLOBE NEWSWIRE) -- Mitek (NASDAQ:MITK) (www.miteksystems.com), a global leader in mobile capture and identity verification software solutions, today announced that it has been issued U.S. Patents No. 9,292,737 and 9,324,073 by the U.S. Patent and Trademark Office. Mitek now has 26 patents issued and 17 patents pending. These latest patents cover Mitek's technology for automatically identifying different types of remittance and invoice documents facilitating the extraction of data from an image captured with a mobile device. This innovation, which is integral to Commercial Mobile Deposit Capture(R) , enables employees to capture invoices and checks at point of presentment, making processing a payment accepted from a customer in the field easier. These patents illustrate Mitek's technological advantages over conventional systems which require foreknowledge of document layouts and labor-intensive setup processes in order to extract data from these documents.

[cushsix]

Good Explanation .....
http://seekingalpha.com/article/3980254-mitek-systems-gift-pullback-provides-entry-point?app=1&auth_param=kiib:1blfnl9:56db7606b890f4f18b9141c757d5b114

[dave7933]

I'm not saying in all cases Street sweeper doesn't know what they're talking about. But in many cases that is the fact.

[mr_sano]

That's not been my experience but obviously everyone have their own own viewpoint. Imgg was covered by SS and it was exposed as a scam soon after. Now Im not saying mitek is a scam or anything similar only that it is a high flyer and the pps doesn't seem to reflect the real fundamentals here. It always concerning concerning
when insiders sell in such high quantities. Thanks for the response!

[dave7933]

Streetsweeper is known for bogus slams on companies. They briefly bring the stock down and shortly after it's up as high if not higher than it was previous to the report. In the meantime they make a fast buck on the short play.

[mr_sano]

Thanks Dave!

[dave7933]

Here is the rebuttle

http://m.benzinga.com/article/8064709?utm_referrer=http%3A%2F%2Fwww.benzinga.com%2Fnews%2F16%2F06%2F8063672%2Fmitek-cfo-russell-clark-speaking-exclusively-with-benzinga-offers-rebuttal-to-str

[mr_sano]

You mean like:

http://thestreetsweeper.org/mobile/undersurveillance.html

It's pretty damning. Not saying it is the truth but what is the rebuttal?

[dave7933]

Go online and read the statement the company put out it all makes perfect sense.

[mr_sano]

How do you explain the insider selling in these volumes?

[Brenton]

Guys, remember all this information has been well-known before this "bearish" article even came out. (IMO) Somehow I feel this was a ruse to shake out shares from loose hands (weak investors). The company has continued to show progress and growth with strong financials. Also, they work off minimal overhead making future possibilities very promising. They're still in the early stages and haven't begun to fully utilize all their technological capabilities.

Disclosure: Please do not take my own thoughts as trading advice. Do your own research to find out the truth behind all these "bearish" articles.

[Brenton]

Why Shares of Mitek Systems Inc. Sank Today [Yesterday]
An article laid out a detailed case for shorting the stock, which has surged over the past six months.

Timothy Green
(TMFBargainBin)
Jun 2, 2016 at 4:15PM

What: Shares of identity verification software vendor Mitek Systems (NASDAQ:MITK) slumped on Thursday following an article on The Street Sweeper that laid out a case for shorting the stock. At 3:30 p.m. EDT, shares of Mitek were down about 15%.

So what: The bearish article lays out a few major reasons to be pessimistic about Mitek. First, insiders have sold more than 1.5 million shares over the past six months. Insider selling on its own often doesn't mean anything, and investors shouldn't jump to conclusions based on this alone.

Second, the article claims that Mitek owns weak intellectual property. Two patent infringement lawsuits initiated by Mitek that were either dropped or thrown out were cited as the basis for this assertion.

Third, according to the article, large financial institutions aren't dependent on Mitek's products, citing the case of USAA working with another company to develop its own facial recognition and fingerprint technology.

Lastly, Mitek stock trades at a lofty valuation. The company generated just $25 million of revenue in fiscal 2015 and $3 million of net income, but a surge in the stock price over the past six months has pushed up its market capitalization to about $250 million. That's a price-to-sales ratio of 10 and a price-to-earnings ratio of around 80. Despite minimal profits, the company pays its top three executives a total of $2.8 million each year, the article said.

Now what: The article concludes that all of these negative factors could push the stock down about 50% in the near term. Investors should always do their own research and make their own investing decisions, but Mitek investors should certainly explore the merit of the bearish arguments presented against the stock.

Timothy Green has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Source: http://www.fool.com/investing/2016/06/02/why-shares-of-mitek-systems-inc-sank-today.aspx

[mr_sano]

Anybody have comments on miteks technical advantage? What prevents another majors from developing similar capture schemes? Company Financials look solid overall.

[Brenton]

Mitek Systems, Inc (MITK) has 9 percent upside potential
Author: Anna Jones
Posted On: April 29, 2016

A few Wall Street research firms recently weighed in on Mitek Systems, Inc. (MITK). They have favorable assessment of the stock, with a mean rating of 2. The stock is rated as buy by 3 analysts, with 1 outperform and 1 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.

For the current quarter, the 5 analysts offering adjusted EPS forecast have a consensus estimate of $0.04 a share, which would compare with $0.05 in the same quarter last year. They have a high estimate of $0.05 and a low estimate of $0.03. Revenue for the period is expected to total nearly $7.38M from $5.67M the year-ago period.

For the full year, 5 Wall Street analysts forecast this company would deliver earnings of $0.21 per share, with a high estimate of $0.22 and a low estimate of $0.2. It had reported earnings per share of $0.21 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $32.56M versus 25.37M in the preceding year.

The analysts project the company to maintain annual growth of around 25 percent over the next five years as compared to an average growth rate of 20.34 percent expected for its competitors in the same industry.

Among the 3 analysts Thomson/First Call tracks, the 12-month average price target for MITK is $7.83 but some analysts are projecting the price to go as high as $8. If the optimistic analysts are correct, that represents a 9 percent upside potential from the recent closing price of $7.31. Some sell-side analysts, particularly the bearish ones, have called for $7.5 price targets on shares of Mitek Systems, Inc..

See Also: THE BIG DROP: HOW TO GROW YOUR WEALTH DURING THE COMING COLLAPSE

In the last reported results, the company reported earnings of $0.04 per share, while analysts were calling for share earnings of $0.02. It was an earnings surprise of 100 percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.


Poster's remark: (For more visit source below. Also, do your own research! Do not take this as fully valid advice.)

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Source: http://cwruobserver.com/2016/04/29/mitek-systems-inc-mitk-has-9-percent-upside-potential

[Brenton]

Oh, I've been here. Just watching from a distance. How about those recent earnings?! They keep steadily improving. Let's all continue to ride the wave. Remember - Lock in those gains. GLTA! :)

[Brenton]

Mitek Systems beats Street 2Q forecasts
Mitek Systems posts 2Q profit, results top Wall Street estimates

SAN DIEGO (AP) _ Mitek Systems Inc. (MITK) on Thursday reported fiscal second-quarter profit of $582,000.

On a per-share basis, the San Diego-based company said it had profit of 2 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The mobile imaging software company posted revenue of $8.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $7.3 million.

Mitek Systems shares have climbed 68 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MITK at http://www.zacks.com/ap/MITK

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Source: http://finance.yahoo.com/news/mitek-systems-beats-street-2q-140649721.html

[Belek]

stock climbing, nobody around......

[Belek]

stock climbing, nobody around......

[Brenton]

Mitek Systems Reports CEO James DeBello Elected Chairman (NASDAQ:MITK)

March 9, 2016 by Robin Reyes in Stock -- News

Mitek Systems (NASDAQ:MITK), a purveyor of mobile capture and identity verification software, Wednesday reported CEO James B. DeBello, 57, has been elected chairman of the board.

The appointment follows the retirement and resignation of former Chairman, John M. Thornton, 83, who served Mitek for 30 years. Mitek reported DeBello has served as a director since November 1994 and as Mitek’s president and CEO since May 2003. Mitek said DeBello created and implemented the successful entry into the emerging mobile capture and ID verification markets, which has generated significant shareholder value over the last decade.

The stock increased 6.18% or $0.34 on March 8, hitting $5.84. Mitek Systems, Inc. (NASDAQ:MITK) has risen 60.88% since August 3, 2015 and is uptrending. It has outperformed by 66.54% the S&P500.

Mitek Systems, Inc. develops, markets, and sells mobile capture and identity verification software solutions for enterprise customers in the Unites States. The companyÂ’s products allow users to verify the identity, remotely deposit checks, pay bills, transfer credit card balances, open accounts, and get insurance quotes by taking pictures of documents with the camera-equipped smartphones and tablets.

It offers Mobile Deposit, a software that allows users to remotely deposit a check using their camera-equipped smartphones or tablets; Mobile Verify, which helps in preventing the use of forged, tampered, or fake licenses; and Mobile Fill, a mobile identity capture solution that enables the mobile customer to use their camera as a keyboard for data pre-filling of various forms requiring personal data. Mitek Systems, Inc. also provides software maintenance and support services. The company markets and sells Mobile Deposit product through channel partners in the financial services industry; and other mobile capture solutions, which include Mobile Fill and Mobile Verify primarily to enterprise customers in the financial services, m-commerce, telecom, and healthcare markets. Mitek Systems, Inc. was founded in 1983 and is headquartered in San Diego, California.


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Source: http://sonoranweeklyreview.com/mitek-systems-reports-ceo-james-debello-elected-chairman-nasdaqmitk

[Roy London]

great play...

[crudeoil24]

I'm getting dizzy from all the SEC form 4's. Solid week!

[stockdawg44]

MITK huge momo......love it.

[Roy London]

MITK..boom shaka laka 5.11

[stockdawg44]

Good stuff, this co. Is setting up for 5,6,10, 20.00 pps......down the road.

[TheFinalCD]

bunch of form 4's a/h


MITK

[Roy London]

love this c0ompany and beauty weekly chart

[stockdawg44]

Looking real good of late....MITK!

[crudeoil24]

MITK >> SURGING!