The stock market suffered another selloff recently. Investors are concerned due to the ongoing pandemic and global economic crisis. However, this crisis has a good side too. Some stocks with great potential are available for a low price. Analysts advise to grab them until the prices skyrocket again.
Mitek Systems works for the mobile and digital world, with offerings that help firms verify a user’s identity. The company utilizes AI and computer vision, and it offers remote check deposit solutions as well. Mitek Systems’ tech is embedded in the platforms, apps, and websites of over 7,000 financial organizations.
This digital identity verification company has grown steadily in recent years. Furthermore, it topped experts Q3 FY20 estimates at the end of July. The stock’s sales surged forward by 16%, while adjusted earnings rallied by 25%.
Mitek Systems’ longer-term earnings outlook has also turned more positive since its report. According to Zacks estimates, the stock’s FY20 revenue may jump 17%, and it may add another 15% in sales in FY21. In addition, the firm’s adjusted EPS figures likely surge forward by 38% and 16% over this same stretch. Overall, it has a strong history of quarterly earnings beats.
Moreover, the company’s offerings are tailor-made for a global economy that is becoming more mobile and digital-centric. The stock has rallied by 245% in the last five years, which includes an 80% climb of the market’s lows. And it’s trading at $11.86 recently, posing an attractive buying opportunity.
What about the second stock?
ChannelAdvisor Corporation is a cloud-based firm. It offers e-commerce solutions that help brands and retailers grow sales, connect with customers, and more. The company topped its second-quarter estimates in early August. CEO David Spitz stated that their second-quarter results were exceptional. Record revenues and record adjusted EBITDA both substantially exceeded their original guidance for the quarter.
ChannelAdvisor enables its clients to improve sales and optimize fulfillment on platforms like Amazon and eBay. The stock has jumped by 65% in 2020, including a recent pullback. It is presently trading at $14.30.