Mitek Systems (NASDAQ:MITK) Downgraded by BidaskClub

Mitek Systems (NASDAQ:MITK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday, January 26th.

Separately, Zacks Investment Research downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Friday, November 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.50.

Mitek Systems (NASDAQ MITK) opened at $7.50 on Friday. Mitek Systems has a 1 year low of $5.50 and a 1 year high of $10.75. The company has a market cap of $260.81, a P/E ratio of 32.61, a P/E/G ratio of 6.63 and a beta of 0.46.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, January 25th. The software maker reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. Mitek Systems had a net margin of 18.57% and a return on equity of 9.45%. The firm had revenue of $12.14 million for the quarter, compared to the consensus estimate of $11.57 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. sell-side analysts predict that Mitek Systems will post 0.08 EPS for the current fiscal year.

In other Mitek Systems news, CEO James B. Debello sold 28,361 shares of Mitek Systems stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $8.91, for a total value of $252,696.51. Following the completion of the sale, the chief executive officer now directly owns 844,726 shares in the company, valued at $7,526,508.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James B. Debello sold 50,000 shares of Mitek Systems stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $8.50, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 893,887 shares of the company’s stock, valued at $7,598,039.50. The disclosure for this sale can be found here. Insiders sold 156,443 shares of company stock valued at $1,361,155 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. acquired a new stake in Mitek Systems in the third quarter valued at approximately $101,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Mitek Systems in the third quarter worth $102,000. Koch Industries Inc. acquired a new stake in shares of Mitek Systems in the fourth quarter worth $111,000. JPMorgan Chase & Co. acquired a new stake in shares of Mitek Systems in the third quarter worth $129,000. Finally, Trexquant Investment LP acquired a new stake in shares of Mitek Systems in the third quarter worth $138,000. Hedge funds and other institutional investors own 43.44% of the company’s stock.

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Mitek Systems Company Profile

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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