Mitek Systems Stock Soars (MITK)

NEW YORK ( TheStreet) -- Shares of Mitek Systems (Nasdaq: MITK) have taken a tremendous swing upward. The stock is trading at $3.07 as of 11:15 a.m. ET, 21.3% above Thursday's closing price of $2.53. Volume is at 1.7 million, 1.5 times the daily average of 1.1 million.

Mitek Systems has a market cap of $142.7 million and is part of the technology sector and computer software & services industry. Shares are down 20.3% year to date as of the close of trading on Thursday.

Mitek Systems, Inc. engages in the development, sale, and service of software solutions related to mobile imaging solutions and intelligent character recognition software. The company has a P/E ratio of 192.7, below the average computer software & services industry P/E ratio of 289 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Mitek Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Mitek Systems Ratings Report.

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.

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