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Added to YB: 2018-12-11

Pitch date: 2018-12-11

MITK [bullish]

Mitek Systems, Inc.

+29.41%

current return

Author Info

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Company Info

Mitek Systems, Inc. provides digital identity verification and fraud prevention solutions worldwide. The company offers Mobile Deposit, a mobile remote deposit capture solution for retail financial institutions, brokerages, and prepaid card providers; Check Fraud Defender, a cloud-hosted fraud mitigation service; Mitek Verified Identity Platform, an end-to-end identity verification solution; Mobile Verify, an omnichannel identity document verification engine; MiSnap, a software development kit that replaces manual image capture with auto-capture; CheckReader, which enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; and Check Intelligence, a check fraud solution.

Market Cap

$607.2M

Pitch Price

$10.20

Price Target

11.50 (-13%)

Dividend

N/A

EV/EBITDA

13.93

P/E

39.07

EV/Sales

3.10

Sector

Software

Category

special_situation

Show full summary:
Mitek Systems: Elliott Bear Hug

MITK: Elliott mgmt hostile bid at $11.50/sh for mobile check deposit & ID verification software co. Other suitors interested. Upside: Deal at higher price. Downside: Temporary pullback, but growing biz provides support. Mgmt overmatched by Elliott.

Read full article (2 min)