Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company value investors might notice is Mitek Systems (MITK Quick QuoteMITK - Free Report) . MITK is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 10.12 right now. For comparison, its industry sports an average P/E of 12.65. Over the past 52 weeks, MITK's Forward P/E has been as high as 12.86 and as low as 7.51, with a median of 10.51.

Finally, our model also underscores that MITK has a P/CF ratio of 11.87. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. MITK's P/CF compares to its industry's average P/CF of 14.14. Over the past 52 weeks, MITK's P/CF has been as high as 25.31 and as low as 8.89, with a median of 13.69.

These are only a few of the key metrics included in Mitek Systems's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, MITK looks like an impressive value stock at the moment.