Mitek Systems (MITK) Message Board

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Technology Stocks : Mitek Systems (MITK)

MITK 9.230

-0.1%

Oct 31 9:30 AM EDT

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To: Thomas Kirwin who wrote (115)	3/30/2012 10:35:33 PM
From: Thomas Kirwin	of 169

Needham & Company initiates coverage on Mitek Systems (NASDAQ: MITK) with a Buy and PT of $18.00. Analyst, Mayank Tandon, said, "We see the proliferation of smartphones driving increased demand for mobile financial services, especially among younger consumers, and banks accelerating the rollout of mobile banking services both as a customer acquisition and a retention strategy. Through its proprietary and patented technology, Mitek has established first-mover advantage in the emerging mobile check deposit market. Including opportunities in adjacent markets such as mobile bill pay and other mobile financial and business transactions, we estimate Mitek’s total addressable market (TAM) is well north of $1 billion."

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