- Without negative legal developments, a profitable and cash generative MITK does not deserve such a reversal on just a slight softening of growth guidance.
- Updating our options valuation of MITK's uncontested business shows it's undervalued given the high-tech angle and great growth profile.
- The HooYu acquisition will also help the uncontested identity business deliver more value.
- On its meaningful declines from last coverage, we rate MITK as a strong buy again, noting its binary nature and speculative profile.
For further details see:
Mitek's Legal Overhang Sees No Development, Declines Unjustified