Added to YB: 2018-12-11
Pitch date: 2018-12-11
MITK [bullish]
Mitek Systems, Inc.
+29.41%
current return
Author Info
Clark Street Value is a special sits/event-driven investor. Sign up for the newsletter.
Company Info
Mitek Systems, Inc. provides digital identity verification and fraud prevention solutions worldwide. The company offers Mobile Deposit, a mobile remote deposit capture solution for retail financial institutions, brokerages, and prepaid card providers; Check Fraud Defender, a cloud-hosted fraud mitigation service; Mitek Verified Identity Platform, an end-to-end identity verification solution; Mobile Verify, an omnichannel identity document verification engine; MiSnap, a software development kit that replaces manual image capture with auto-capture; CheckReader, which enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; and Check Intelligence, a check fraud solution.
Market Cap
$607.2M
Pitch Price
$10.20
Price Target
11.50 (-13%)
Dividend
N/A
EV/EBITDA
13.93
P/E
39.07
EV/Sales
3.10
Sector
Software
Category
special_situation
Mitek Systems: Elliott Bear Hug
MITK: Elliott mgmt hostile bid at $11.50/sh for mobile check deposit & ID verification software co. Other suitors interested. Upside: Deal at higher price. Downside: Temporary pullback, but growing biz provides support. Mgmt overmatched by Elliott.
Read full article (2 min)