Jefferies Downgrades Mitek Systems to Hold, Lowers Price Target to $9.5
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Surinder Thind has downgraded Mitek Systems from Buy to Hold and reduced the price target from $17 to $9.5.
September 04, 2024 | 3:07 pm
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NEGATIVE IMPACT
Jefferies has downgraded Mitek Systems from Buy to Hold, significantly lowering the price target from $17 to $9.5, indicating a less optimistic outlook.
The downgrade from Buy to Hold and the substantial reduction in the price target from $17 to $9.5 by Jefferies suggests a negative outlook on Mitek Systems' stock performance. This is likely to lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100