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Research firm says BOFI, MITK nearing oversold territory

Two local companies have been hammered so hard in the stock market lately that they may be oversold, and a third seems poised to beat Wall Street estimates on its performance, according to reports by Zacks Equity Research on Friday.

Zacks listed BofI Holding Inc. (Nasdaq: BOFI) and Mitek Systems Inc. (Nasdaq: MITK) as potential turnarounds.

Zacks said the consensus estimate of BofI’s performance has risen 6 cents over the past two months to $3.74 per share, adding that “now might be a good time to get in on it after its recent drop.”

Mitek shares, which were trading as high as $7 earlier this year have since dropped to around $3.71, with a disproportionate following among short-sellers betting that the price will slide further. But Zacks noted that earnings have been moving higher despite the pessimism.

On Wednesday, Mitek joined with privately held Ensenta to develop new mobile imaging technology. And on Thursday, Mitek signed up one of the nation’s 30 largest banks to use its mobile check-imaging technology.

Zacks also recommended Jack in the Box Inc. (Nasdaq: JACK), because of a “nice streak of beating earnings estimates.” In the past two quarters, Jack beat the estimates by more than 10 percent, “suggesting it has a nice short-term history of crushing expectations.”

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Mitek Systems Inc.

Company Website

8911 Balboa Ave. Ste., B
San Diego, CA 92123

Mitek Systems Inc. Executive(s):

Jim DeBello

  • Chief Executive Officer, President

Russell Clark

  • Chief Financial Officer

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