Equities research analysts predict that Mitek Systems, Inc. (NASDAQ:MITK) will announce $0.05 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mitek Systems’ earnings, with estimates ranging from $0.02 to $0.06. Mitek Systems posted earnings of $0.03 per share in the same quarter last year, which indicates a positive year over year growth rate of 66.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that Mitek Systems will report full year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.41. For the next financial year, analysts expect that the business will post earnings of $0.49 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Mitek Systems.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, November 1st. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Mitek Systems had a net margin of 5.75% and a return on equity of 4.74%. The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $20.09 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue was up 62.8% on a year-over-year basis.
MITK has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a report on Wednesday, October 10th. TheStreet downgraded shares of Mitek Systems from a “b” rating to a “c+” rating in a research report on Friday, July 27th. BidaskClub upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. National Securities set a $18.00 target price on shares of Mitek Systems and gave the company a “buy” rating in a research report on Friday. Finally, ValuEngine downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Mitek Systems currently has a consensus rating of “Hold” and an average price target of $11.08.
Shares of NASDAQ:MITK opened at $9.62 on Monday. Mitek Systems has a 12 month low of $6.32 and a 12 month high of $10.10. The stock has a market cap of $346.60 million, a price-to-earnings ratio of 101.89, a P/E/G ratio of 3.40 and a beta of -0.27.
In other Mitek Systems news, Director James C. Hale III bought 20,000 shares of the business’s stock in a transaction on Friday, August 31st. The shares were bought at an average cost of $7.17 per share, for a total transaction of $143,400.00. Following the transaction, the director now owns 111,135 shares in the company, valued at approximately $796,837.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James B. Debello sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $8.54, for a total transaction of $427,000.00. The disclosure for this sale can be found here. Corporate insiders own 8.52% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MITK. Mount Yale Investment Advisors LLC acquired a new position in Mitek Systems during the 2nd quarter valued at about $122,000. Russell Investments Group Ltd. raised its position in shares of Mitek Systems by 35.7% in the 1st quarter. Russell Investments Group Ltd. now owns 25,741 shares of the software maker’s stock valued at $190,000 after acquiring an additional 6,772 shares during the period. Mackay Shields LLC acquired a new stake in shares of Mitek Systems in the 2nd quarter valued at approximately $208,000. Eqis Capital Management Inc. acquired a new stake in shares of Mitek Systems in the 2nd quarter valued at approximately $239,000. Finally, First Trust Advisors LP raised its position in shares of Mitek Systems by 85.0% in the 2nd quarter. First Trust Advisors LP now owns 59,223 shares of the software maker’s stock valued at $527,000 after acquiring an additional 27,202 shares during the period. Institutional investors own 46.20% of the company’s stock.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.
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