Mitek Systems reported in-line Q4 earnings and guided to fiscal 2020 revenue growth of 18% at the midpoint, William Blair analyst Bhavan Suri tells investors in a research note. The analyst, who expects Mitek will be able to maintain a revenue growth rate in the mid- to high-teens percent range, said he'll continue to monitor the patent disputes that USAA has with numerous financial institutions. Mitek is not one of the companies being sued, but on November 1, USAA filed a complaint seeking a declaratory judgment that Mitek's check image capture product does not nfringe on certain USAA patents, the analyst points out. Nonetheless, he remains remain positive about the company's fundamentals and keeps an Outperform rating on the name.

Conference call to provide an overview of check fraud defender and demo with CEO Carnecchia and CFO Lyle to be held on May 1 at 1 pm hosted by Northland. Webcast Link