Mitek: Not Dirt Cheap, But Worth a Tactical Long — Here’s the Plan
Mitek (MITK) is trading around $14.19 with a market cap near $640M. The stock looks expensive on P/E (~39-41x) but the business generates healthy free cash flow ($44.5M) and carries modest leverage (debt/equity ~0.21). This trade idea argues for a tactical long into patient upside toward the $16.50 area while protecting capital with a $12.80 stop.