Equities research analysts forecast that Mitek Systems, Inc. (NASDAQ:MITK) will announce $0.19 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Mitek Systems’ earnings, with estimates ranging from $0.18 to $0.19. Mitek Systems reported earnings of $0.14 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.7%. The company is expected to report its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Mitek Systems will report full-year earnings of $0.40 per share for the current year, with EPS estimates ranging from $0.39 to $0.40. For the next year, analysts anticipate that the firm will report earnings of $0.49 per share, with EPS estimates ranging from $0.48 to $0.51. Zacks’ EPS averages are an average based on a survey of analysts that follow Mitek Systems.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $21.91 million for the quarter, compared to the consensus estimate of $21.74 million. Mitek Systems had a negative net margin of 7.61% and a positive return on equity of 6.33%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS.
Several research firms have recently commented on MITK. Roth Capital set a $14.00 price objective on shares of Mitek Systems and gave the company a “buy” rating in a report on Friday, July 19th. BidaskClub downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Zacks Investment Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, ValuEngine raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Mitek Systems presently has an average rating of “Buy” and an average price target of $14.75.
In related news, CFO Jeffrey C. Davison sold 13,077 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $9.55, for a total value of $124,885.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Ritter sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $9.93, for a total transaction of $148,950.00. The disclosure for this sale can be found here. Insiders sold a total of 36,830 shares of company stock worth $359,965 over the last ninety days. Insiders own 8.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Mitek Systems by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,835,393 shares of the software maker’s stock valued at $18,244,000 after purchasing an additional 49,648 shares during the period. Royal Bank of Canada lifted its stake in shares of Mitek Systems by 63.5% in the 2nd quarter. Royal Bank of Canada now owns 1,123,802 shares of the software maker’s stock valued at $11,171,000 after purchasing an additional 436,428 shares during the period. Park West Asset Management LLC acquired a new position in shares of Mitek Systems in the 2nd quarter valued at $10,934,000. Raging Capital Management LLC lifted its stake in shares of Mitek Systems by 206.2% in the 2nd quarter. Raging Capital Management LLC now owns 1,067,330 shares of the software maker’s stock valued at $10,609,000 after purchasing an additional 718,729 shares during the period. Finally, Independent Advisor Alliance lifted its stake in shares of Mitek Systems by 8.9% in the 2nd quarter. Independent Advisor Alliance now owns 690,770 shares of the software maker’s stock valued at $6,866,000 after purchasing an additional 56,350 shares during the period. Hedge funds and other institutional investors own 61.46% of the company’s stock.
Shares of MITK stock traded up $0.05 during trading hours on Monday, hitting $9.91. The company’s stock had a trading volume of 226,728 shares, compared to its average volume of 195,490. The company has a 50 day moving average of $9.77 and a 200 day moving average of $10.51. The stock has a market cap of $394.14 million, a PE ratio of 70.07, a price-to-earnings-growth ratio of 4.17 and a beta of -0.13. Mitek Systems has a 12-month low of $6.32 and a 12-month high of $13.07.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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