5 Best Small Cap AI Stocks To Buy Now

3. Mitek Systems, Inc. (NASDAQ:MITK)

Market Capitalization as of July 29: $459.31 million

Number of Hedge Fund Holders: 19

Mitek Systems, Inc. (NASDAQ:MITK) is a software company that specializes in digital identity verification and mobile image processing using artificial intelligence. The company’s software is used for depositing checks and opening bank accounts via mobile devices.

On July 3, 2023, Scott Buck, an analyst at HC Wainwright & Co., restated his optimistic view on Mitek Systems, Inc. (NASDAQ:MITK) and upheld a Buy rating for the company’s stock. However, he revised the stock’s price target from $22 to $19.

At the end of Q1 2023, Mitek Systems, Inc.’s (NASDAQ:MITK) was held by 19 hedge funds, up from 13 in the previous quarter. Ben Gordon’s Blue Grotto Capital, the company’s largest shareholder, was long over 4.13 million shares of Mitek Systems, Inc. (NASDAQ:MITK).

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