William Blair analyst Bhava Suri rates Mitek "outperform." The analyst said in a report on Jan. 31 that "the launch of mobile deposit at several marquee banks as well, as the increased diversification in product revenue, should assist in creating a more consistent and predictable revenue growth rate."

Suri estimates that Mitek's fiscal 2013 revenue will increase to $10.9 million, increasing from $10.3 million in fiscal 2012. Suri estimates Mitek will post a fiscal 2013 net loss of $0.20 a share.

MITK Chart MITK data by YCharts

-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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