$20 - $40 not out of question within 15 months, here's why
MITK is hot Mobile play given its technology is in infancy stage when it comes to its adoption. Daily more people use Mitek technology not even knowing it. If you deposit your pay check or any other check using your mobile phone at bank like Citi or Bank of America or Chase you may have used this little company's product. Already over $13 bln of transactions handled by its licensed software.
Still not late at all to load up at $4.25, It has started its run now.
Signed 708 financial institutions to date with 318 customers live as of Dec. 31, 2012
MITEK customers are BANK OF AMERICA, CHASE, WELLS FARGO, PROGRESSIVE INSURANCE, US BANK, CITIBANK and 700 more.
Entered into strategic partnership with US Bank for commercial launch of Mobile Photo Bill Pay™
Increased Mobile Deposit transaction usage over 25% for third consecutive quarter
Sixth mobile imaging patent issued to the Company by the USPTO, bringing the total number of issued patents to 13 with 14 additional patents pending.
Announced more than 20 prepaid card initiatives from some of the most innovative banks, large retailers and wireless carriers by making the process of loading prepaid cards simple and easy with
Signed a strategic mobile imaging partnership with US Bank to deliver the first Mobile Photo Bill Pay product to US Bank customers in early 2013.
MITK will be $20 - $40 within 15 months if my calculations prove to be correct in forecasting.