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Fly News Breaks for June 2, 2016
MITK
Jun 2, 2016 | 14:52 EDT
Roth Capital analyst Darren Aftahi believes that StreetSweeper's short report about Mitek Systems misses the substantial progress made by the company's Mobile ID business and the related pullback in the stock creates a buying opportunity. Aftahi also contends that the insider sales highlighted mostly came from the exercise of low priced options, that competitive threats to its Mobile ID products highlighted in the report may be overblown and that the stock's valuation is in-line with a peer group of high-growth software companies. The firm keeps a Buy rating on Mitek shares.
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