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Added to YB: 2024-07-05

Pitch date: 2024-07-03

MITK [bullish]

Mitek Systems, Inc.

+17.13%

current return

Author Info

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

$11.27

Price Target

N/A

Dividend

N/A

EV/EBITDA

13.93

P/E

39.07

EV/Sales

3.10

Sector

Software

Category

value

Show full summary:
Reiterating 'Buy' On These Picks - Mitek Systems, Inc.

MITK: Check capture monopoly w/ 30-31% op margin, 15x P/E. ID verification biz struggling but potential w/ AI scam rise. New CEO, $50M buyback. Risks: patent litigation, check decline. Guidance: 12% rev growth (ex one-time). Bull case: undervalued deposits biz + ID verification optionality. Triple-digit upside potential.

Read full article (3 min)