Of course, for a software developer at the forefront of a transformative technology, customer and revenue growth are the most important items at this stage of the game.
Mitek's stock closed at $6.17 Monday, more than doubling from the end of 2012.
William Blair analyst Bhavan Suri rates Mitek "outperform," and in a note to clients on Dec. 3 wrote that the company "still has a roughly 18- to 24-month lead over its competition," noting it recently received its 18th patent and had 21 more patent applications pending.
"Based on the company's proprietary imaging technology and algorithms, the lack of competition in the mobile deposit market, and the proliferation of smartphones and growth in mobile banking, we believe Mitek could grow revenue more than 50% in fiscal 2014, and we believe the stock will outperform its technology peers," Suri wrote..
MITK data by YCharts
-- Written by Philip van Doorn in Jupiter, Fla.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV