Wall Street Analysts Think Mitek Systems (MITK) Could Surge 32.9%: Read This Before Placing a Bet

Group 1 - Mitek Systems (MITK) closed at $9.97, with a 7.2% gain over the past four weeks, and a mean price target of $13.25 suggests a 32.9% upside potential [1] - The average price targets range from a low of $11.00 to a high of $15.00, with a standard deviation of $1.71, indicating a potential increase of 10.3% to 50.5% from the current price [2] - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential stock price movements [11][12] Group 2 - The Zacks Consensus Estimate for the current year has increased by 1.9% due to two upward revisions and no negative revisions in the last 30 days [12] - MITK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While the consensus price target may not be a reliable indicator of the extent of potential gains, it does provide a directional guide for price movement [14]