Mitek Systems price target raised to $17 from $13 at Northland

Northland raised the firm’s price target on Mitek Systems (MITK) to $17 from $13 and keeps an Outperform rating on the shares. After a “solid” Q4 performance, the firm believes Mitek is well positioned to capitalize on the opportunity presented by the ongoing growth in AI-related fraudulent activity that is “seeming to evolve on a daily basis,” the analyst tells investors.